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

To: Razorbak who wrote (2575)	3/14/1999 8:58:00 PM
From: Arktic	Respond to of 3156

Razor: Irrespective of opinions regarding ABACAN and vested interests on this thread, I really appreciate your post. Thoughtful, quantitative, and useful. I cut and pasted the information into an archive file for future reference. It's those kind of posts that make reading SI threads worthwhile to me. Too often, the threads are just an opportunity for catharsis rather than analysis. Thanks. Of course, I can't say that I hope you're right but I look forward to any thoughtful responses from similarly knowledgeable MBA types who may be perusing this thread. For that matter, I'd love to see somebody use equally convincing logic/math to rip your position to shreds. Debate is the yeast of intelligent conversation! I certainly am not in a position to support or refute your analysis... but I am in a position to say, I'm impressed. I suppose those holding Abacan stock at these prices could be considered those who firmly believe that the assets held by Abacan will attract a suitor or that the 15% error factor in the formula's predictive validity will be to Abacan's benefit. People throw down big money in Vegas on worse odds you know <ggg>! Paul L. Craig

To: Razorbak who wrote (2575)	3/15/1999
From: SDR-SI	Read Replies (1) \| Respond to of 3156

Razor: Thanks for post of the Altman Bankruptcy Predictor and it's application to our troubled little company. I have not previously encountered this measure of indication of survival/bankruptcy likelihood. Clearly, the dominant term in the formula, as it applies to Abacan, is the fourth one: X4 = Market Value of Equity / Book Value of Liabilities = MVE/BVTL We know only too well that the MVE has gone down since the date of the available data on which your calculations were based. Unless a major agreement for concessions to the company's liabilities can be made, the BVTL will not go down. Therefore, the inescapable conclusion is that without a major reduction in liabilities, the overall "Z" value will probably be found to have decreased further and fallen even more into the "near death" range, if it could be updated with current figures. The formula's probable efficacy is somewhat corroborated by the fact that it, as well as logical thought, indicates that there is no way to get back into survival range without a major trimming of liabilities. While there are those that might argue that there are circumstances which might save the company from the specific formal filing of bankruptcy, the Altman Predictor is certainly another indication that the company's alternatives are in the "moves of desperation" realm. As Paul has pointed out, those that are still long on this stock (myself included) are playing against the odds, both as one would logically conclude from a qualitative consideration of the facts, and, as demonstrated by the Altman Predictor, also from consideration of quantitative or analytical measures. I, too, will file the Predictor away for future use, even while I hope that in this case we ultimately are within the "margin of error" in which the final outcome goes against the formula's predictions. Illogically and hopefully, Steve

To: Razorbak who wrote (2575)	5/23/1999 5:15:00 PM
From: Razorbak	Read Replies (1) \| Respond to of 3156

[Off-topic] PMFJI, guys. I know everyone is in the middle of some serious, on-topic discussion here, but I just couldn't resist throwing the following off-topic post into the ring. Altman Bankruptcy Predictor - Abacan Resources Corp. (ABACF), Rev. 1 #reply-9704410 Now back to the topic du jour. It's much more interesting anyway. <g> Razor

To: Razorbak who wrote (2575)	2/25/2000 9:48:00 PM
From: Razorbak	Read Replies (1) \| Respond to of 3156

"Abacan Resource Corporation Update Of Corporate Affairs" Friday February 25, 11:02 am Eastern Time Company Press Release HOUSTON--(BUSINESS WIRE)--Feb. 25, 2000-- Abacan Resource(OTC BB:ABACF - news; TSE:ABC. - news) Abacan Resource Corporation (TSE:ABC - news; OTC BB:ABACF - news) wishes to provide an update of its corporate affairs. To date, the Corporation has been unable to secure partners for either of its Benin Republic or Nigerian oil and gas properties. The Corporation has been unable to raise additional operating funds and has also been advised that its major secured creditor is not prepared to further assist the Corporation by injecting additional operating funds or through the restructuring of the outstanding principal balance of its secured loan. As a consequence, without a material change in the current position of the Corporation's major secured creditor and without a significant infusion of capital, the Board of Directors anticipates that the Corporation will proceed with a voluntary assignment into bankruptcy pursuant to the Bankruptcy and Insolvency Act (Canada) in the very near term. -------------------------------------------------------------------------------- Contact: Abacan Resource Corporation Corporation, 713/479-9770 biz.yahoo.com