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

To: SDR-SI who wrote (2676)	4/7/1999 12:45:00 PM
From: Arktic	Read Replies (1) \| Respond to of 3156

I have analyzed this company from a psychological perspective up one side and down the other. But the thing never to forget is this is business, not human relations. If Abacan's concession can make another company a LOT of money, then a JV partner or M/A will want to participate/butout. If not, then no deal will be forthcoming. Of course, interested parties will want to wait until the most propitious moment from their perspective to strike a deal. If more than one party becomes seriously interested, then something could happen fast. If only one party is interested, then it would be in their interest to act disinterested in order to acquire the best terms. Enron doesn't need the Benin power project to continue as a successful company. If the contract is right for them, they'll move forward. If not, they have competing places to use their capital. Hopefully, all parties concerned will understand this and attractive terms and assurances will be written for Enron to get the power production project underway. Enron has dealt with many small governments in developing countries. They understand the risks they are taking and undoubtedly want to have very tight contracts and clear assurances from governments that the capital they expend internationally will not be violated/nationalized etc. Anyway... by this time next year, something will have happened. "What" remains to be seen. Paul L. Craig