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Gold/Mining/Energy : Strictly: Oil and Gas Exploration Companies -- Ignore unavailable to you. Want to Upgrade?

To: READE SMITH who wrote (119)	1/24/1999 1:29:00 PM
From: Robert T. Quasius	Read Replies (1) \| Respond to of 318

Check out AXAS. IMHO, this stock will be worth $20 or more as some of the exploration prospects reach fruition, and as Canadian and U.S. natural gas prices equalize with new pipe line capacity from Canada. This stock is volatile because of heavier than average leverage. However, I don't see BK on the horizon because the cash position, cash flows, etc. are good. There has been a lot of insider buying in December in the $4-5 range. The price collapsed to under $3 in January due to a couple of exploration dry holes in Canada, in an area next to a giant producing field. However, AXAS has a proven ability to grow shareholder value through the drill bit. AXAS has plenty of potential finds remaining in Canada, including in the fields where the dry holes occurred. AXAS also has quite a bit of production in the U.S., especially in Texas. In Texas in 1998, AXAS replaced it's yearly production with some excellent finds.