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Gold/Mining/Energy : American International Petroleum Corp -- Ignore unavailable to you. Want to Upgrade?

To: Zeev Hed who wrote (9501)	2/20/1999 9:53:00 AM
From: Razorbak	Read Replies (1) \| Respond to of 11888

<<Do we know if the $10MM just agreed on has any "strings" attached?>> Just security in the Company's assets... <<The Debentures are secured by a first mortgage on the Company's Lake Charles, Louisiana refinery and property.>> No big deal if you're a shareholder. ;^) Razor

To: Zeev Hed who wrote (9501)	2/20/1999 10:29:00 AM
From: DRRISK	Respond to of 11888

Zeev, My understanding FWIW is that it is a "floored" deal that has a minimum price at which conversion can occur and that this price is above the present market value by a bit. It is better then no floor which has created the misery we still endure with the HUNTS. The hope is that getting Chag will bring the CSFB crowd out of the closet. I am encouraged given that the conventional wisdom was that the Hunts believed that they would never be paid back by GF. GF actually is paying them back instead of allowing conversion. This is a FWIW but I believe that the Hunts were hitting the stk friday as a message to CSFB that they are still in control of the share price. They are not short three million and probably feel that CSFB will not deliver the money before GF has to register more shares. My only solace is that I believe that GF and DF are not making these decisions and that CSFB is finally calling the shots. DrRisk