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Gold/Mining/Energy : SOUTHERNERA (t.SUF) -- Ignore unavailable to you. Want to Upgrade?

To: ALAN DUBE who wrote (2444)	2/11/1999 7:22:00 PM
From: VAUGHN	Read Replies (1) \| Respond to of 7235

Hello Alan My e-mail is down so could not say, but that possibility was announced last fall then shelved pending law suit resolution and amalgamation. Some less than exciting dilution numbers were bandied about which to some degree also put the choke on SUF share price appreciation this spring in the face of earnings. I think some of the bigger players are waiting to see exactly what any dilution will be upon such a take over proposal. The word I got was that it was not hostile last fall but if SUF is asking for a more realistic share proposal than previously suggested, then it would be understandable that Tehera might not be too enthusiastic. I am sure they would dearly love to find a couple more JDOD-1's before fielding take-over bids but given their existing capital and failure to demonstrate the existence of more economic pipes, their bargaining position is less than exciting. CJ and I am sure, DB's, is well aware of their geologic potential and if they can be picked up for a song then SUF share holders will probably celebrate. However, it better be a very short song or no one will be singing a happy tune. SUF does not need dilution or prospectivity right now, it needs Canadian exploration results. DB's or Kennecotte can afford to be more generous as they have deeper pockets and are under less share holder pressure. Regards