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

To: Harry who wrote (962)	3/19/1999 8:48:00 PM
From: Gord Bolton	Respond to of 1326

Harry, if they have what they say they have they might try a little shakeout first. It sure would be nice to have all the information thouigh. Maybe someone who has some time can do an ownership analysis on this whole play. Figure out who is accumulating who and what and all that. It might tell a story in itself.

To: Harry who wrote (962)	3/20/1999 10:05:00 AM
From: LowtherAcademy	Read Replies (1) \| Respond to of 1326

Harry, Your frustration is easy to understand. Personally I think the smart money hasn't left at all-- on the contrary, I think it's the traders that have left. I can only speak on my knowledge of ADDA. Adda is hurting for cash, and I can assure you that all members of it's management group have been more anxious than you over the turn of events at Winfield. However, Adda has or is extending it's lease for a couple of more years and hunkering down for the legal posturing to finally culminate in a fair settlement. Weatherford may well procrastinate for years, or it may decide that a negotiated settlement is the best way to go---that is going to entirely depend on Baytech's ability to negotiate. I don't know what's been offered or refused at this point. I was told that a price of 1.5 million was quoted as the price for developing the Devonian---so, obviously there is still a lot of bluffing and posturing going on. It's hard for us investors to know what to do. However, I have made the decision that I will be buying more Adda stock if the price gets down to single digits and putting it all away. This decision was based on a number of things: >gas is still there; >my biggest investment mistakes have always been leaving the party too early; >price of gas will be going up and we will be seeing added value from that alone; >the tulip mania in this market scares me to death; US capital gain laws will add a little extra value on a long term hold. >I've got carry over tax losses for the next couple years, I don't need more! Best of luck on your decision. Lew

To: Harry who wrote (962)	3/20/1999 10:38:00 AM
From: LowtherAcademy	Read Replies (1) \| Respond to of 1326

Thought I'd take a look at Weatherfords 10K and see if I could find any references to other similar law suits. Unfortunately their standard boilerplate language is less than forthcoming with any definitive details: From 1997: 33 <PAGE> WEATHERFORD ENTERRA, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS -- (CONTINUED) The Company is involved in certain claims and lawsuits arising in the normal course of business. In the opinion of management, the likelihood that uninsured losses, if any, resulting from the ultimate resolution of these matters will have a material adverse effect on the financial position, results of operations or liquidity of the Company is remote.

To: Harry who wrote (962)	3/22/1999 1:33:00 AM
From: Don Richards	Respond to of 1326

Hello Harry! I'll still chat with you-no problem!-And I've still got my money on the table to boot!!What I meant by watching from afar off is that I'm going to stop letting this thing get to me by watching it too closely on a daily basis and waiting so impatiently for action like I was.I still believe in the play and think they will get it worked out eventually.I agree with Gord that there will be a shakedown of sorts here sometime as well,which will probably make some things interesting! One thing I'll be watching for is what sort of treatment will a couple of the jv'ers receive who have jv'd with this same basic group (GHP) on a couple other projects,eg-West Cameron 18 offshore, and met with failure. Will that be remembered and be a factor at all? Or will they be hung out to dry and have to give up some or all of their share in this play if they cannot afford to contiue waiting for a settlement? I have so many questions and can only wait for answers!Certainly I'd like to see the jv's be all able to stay in the play until settlement date. That bit of news about WTR from 1997 was interesting anyway!-kind of tells a bit don't it? Have a good one,chat later,,LP