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Gold/Mining/Energy : 25,740' WINFIELD RANCH JV PARTNERS -- Ignore unavailable to you. Want to Upgrade?

To: Gord Bolton who wrote (948)	3/17/1999 3:42:00 PM
From: Don Richards	Read Replies (2) \| Respond to of 1326

Hello Gord- ...I don't have much for news.But here is all I got-(was waiting/hoping for some action from the wellsite to provide it for us).(stupid me)..but now it doesn't appear that much will be forthcoming for awhile. -The time since their announcement of Mar.03 has been more than adequate to be testing by now.So it now looks more and more like they're not going to do so at this time. -From what I can gather there's 2 main problems right now..1)indecision-they can't decide whether to go ahead with testing of these upper zones or wait for the ellenburger situation to be settled.I was told "one day it's on and the next day its off" ...2)Money-testing bill supposedly close to 1mill$ and a couple of jv's can't afford to pay their share. ...One more thing-apparantly the time was up on Mar.15th.on the $15k/day standby costs that WF was paying..I understand the standby costs have dropped way down to 1500$/day and now have to be paid by the jv..So how long this will last is once again the question. ---This above is only what I have been able to gather and it's accuracy of course shouldn't be counted on,although I got it from what I consider to be a pretty reliable source. -You know Gord,I have lost all faith in these guys. Guess I was wrong to have put any in them in the first place.I'm sorry that I ever tried to see it from their side a bit or to stand up for them in any way..It looks to me that there are those within who are hellbent on getting the share prices down to nothing on some of the jv's, so others can come in and buy up the pieces for scrap prices. --As always,once again,I don't know what's really going on with them,but why the heck would they go and give a nr stating they were going to do something and then not follow through with some decisive action...If all they wanted to do was update us,then they should have given us a current status report of sorts,rather than promising us that they were actually going to do something.. --Sorry I didn't have any better news to share but decided to share what I did have!!..Chat later..LP