Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : POE:VSE PAN OCEAN EXPLORATIONS INC. -- Ignore unavailable to you. Want to Upgrade?

To: Jim Bishop who wrote (26)	3/26/1999 11:24:00 PM
From: CIMA	Read Replies (1) \| Respond to of 277

To: +Kerm Yerman (6203 ) From: +CIMA Friday, Mar 26 1999 11:17PM ET Reply # of 6220 Hi Kerm. Re POE:VSE - I heard a very strong rumor today that POE-VSE (Pan Ocean Explorations) will announce a JV with Mobil on an offshore Newfoundland well next week. I've heard the name York Harbor mentioned, about 20 km away from Shoal Point where Pan-Canadian, Hunt and Mobil have just spudded their third well and started drilling their fourth. In the bit of DD I've been able to do I know these wells cost about $10M each. Jack Singer, one of the wealthiest people in Canada, is the Chairman of the Board of POE. His wealth was earned in the Alberta oilpatch. There aren't many shares out in POE (approx. 5.5M) so this looks like an unusually good opportunity for a junior. The deal looks like it's 60-40, with Mobil carrying the larger end. I would appreciate any comments on the promise of the area or any other pertinent info as I'm relatively ignorant in oil and gas. I bought some today because it sounds really good to me but I'm running a bit blind.