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Gold/Mining/Energy : coastal caribbean (cco@) -- Ignore unavailable to you. Want to Upgrade?

To: Kive I. Strickoff who wrote (750)	4/5/1999 12:21:00 AM
From: Rob Skaff	Respond to of 4686

Between the current number of shares outstanding, the relationship between them and the holding company it's almost as if there are 50 million shares.. (I know there isn't 50 million shares guys, just trying to make the math easy) 500 million = $10 a share

To: Kive I. Strickoff who wrote (750)	4/5/1999 12:39:00 AM
From: Edwin S. Fujinaka	Read Replies (1) \| Respond to of 4686

Although there are around 40 million shares of CCO outstanding, we have to remember that CCO only owns about 60% of Coastal Petroleum, and it is Coastal Petroleum who actually owns the leases. Any financial settlement that results in a payment for the leases is further complicated by a variety of claims including 1.25% that goes to Phil Ware and several other people. (That might include the lawyers). Lykes also owns a percentage in the 20's I believe, and I'm not exactly sure how that figures in. Ownership is a little fuzzy in my mind and it is one of the things that concerns me about what might actually happen if there is eventually some sort of settlement in this case. I'm also worried about some form of insider takeover prior to a settlement that might cut the shareholders out of a sizeable portion of the proceeds. Hopefully, that is not likely, but I've seen some pretty tricky stuff develop in at least one case that involved Donald Trump and Resorts International.