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

To: Juli who wrote (2632)	3/30/1999 12:16:00 AM
From: Arktic	Respond to of 3156

Jewel: Your analysis sounds similar to the reconnaisance I received from another attendee. I haven't heard from Sam but I suspect he was in attendance. Steve was also there and should have a review. Bottomline appears to be the same as it has been for a while. If the "deals" go through including the Enron deal and a JV on the Benin, then Abacan has a fighting chance at survival. If not, and the money runs out... well that scenario is a no brainer. I certainly hope the company survives and eventually thrives. But for now, there is so much uncertainty that holding shares in the company seems dicey at best. On the other hand, shares at today's prices are akin to option contracts. They can't go down much further and if all goes well, they may eventually rise. The difference between option contracts and ABACF stock today is that options are time eroding. Except for the fuse on the cash for the company and the possibility of bankruptcy, the shares in Abacan are not time eroding. Thanks for posting your "read" of the meeting. Paul L. Craig