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Gold/Mining/Energy : Epic EAS.v (formerly Epic ERB.v and Safari SIR.v) -- Ignore unavailable to you. Want to Upgrade?

To: Geoff who wrote (2711)	11/4/1998 10:42:00 AM
From: andrew r harwood	Read Replies (2) \| Respond to of 3335

Well I guess everyone is entitled to their own spin on events but i find it hard to believe that a company with essentially no assets, no plans for drilling no producing wells would be valued at more than 30million dollars.whats is amazing to me is that its held at 50 cents with no projects right now most other companies would have gone to nothing .the gas sector is currently holding up a little better than the oil sector right now because of the price of natural gas but if its another warm winter watch out.my spin on the pp is that they have raised 300,000 $ canadian at the price of significant share dilution because they cant find a jv partner and they need money to operate.also probably have enough now to drill a couple of wells. remember they are rasing money in canada and then bring it to the usa for drilling so 300,000 canadian is only about 200,000 us.drilling rates have fallen significantly for rigs in the gulf but i have no idea if the same holds true for conventional rigs in washington state.it would be interesting to know what it cost for them to drill there first two dry holes but i cant imagine that they have enough money from this pp to drill more than a couple of holes .i would interpret the news extemely negatively since they have had to sell a lot of shares and warrants to raise only a little money .just my opinion of course .remember the time to sell is when the share price is strong and going up a little not when it is tanking to 10 cents arh