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Gold/Mining/Energy : ABC - Abacan Resources, Nigerian Oil $$$ -- Ignore unavailable to you. Want to Upgrade?

To: pete meyer who wrote (2438)	1/30/1999 12:55:00 AM
From: Sam Lee	Read Replies (2) \| Respond to of 3156

My research indicates that 5 funds own about 1/2 of the stock with State Street owning about 15%. Humm. Are they just stupid? Reverse split and a rights offering.They go together. Nice way to give stockholders an opportunity to avoid dilution and let the company raise some funds. Hmm. Wonder what it will take for the doors to stay open another year? Not much if the debt is settled. $2 or $3 mil or so? I mean, how much can you spend on rent, electricity and a few salaries. Hmm. Wonder if Total will cooperate? Guess they will if they want the company to have a chance to survive, otherwise, Total might not get anything. What would a creditor do. I think The Donald's creditors "cooperated", as I recall. Hmm. If Abacan could survive then at some point the gas deal and/or a jv might happen. Revenues and operational. Debt under control. Perhaps a suitor. Hmm. Then, on the other hand, this company is snake bit, isn't it ? Nothing but bad to worse. Will it never end? Wonder why a bright guy like Tim Stephens hangs on? Are executive jobs in the oil patch that hard to find? Is there really going to be a meeting on The Ides Of March?? I didn't think that was a particularly lucky day in history. Or is it significant? Oh well, at least they didn't call it on Pearl Harbor Day or the anniversary of the fall of Dunkirk or the defeat of The Light Brigade,or--oh well. I guess I'll go, but I ain't wearin' no toga. Night all.