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

To: Rob Skaff who wrote (755)	4/8/1999 10:01:00 PM
From: Edwin S. Fujinaka	Respond to of 4686

Rob,...Unfortunately, the political reality is that no Governor of Florida can propose a large payment to a Company like CCO without laying a lot of groundwork. The February 8, 1999 Article in the Oil & Gas Journal could become the opening shot if it pans out as anywhere near true. First, the public has to become aware of what is at stake and how much oil (and money) is at issue and how it could affect the future of this Country. Second, the public has to become convinced that CCO has a legitimate claim to part of that oil based on a simple lease agreement that the Company and the State reached in good faith. Third, everyone has to become convinced that endless litigation is not good for anyone if it can result in an outcome like the Michigan/Miller Brothers Oil Case. It wouldn't even help CCO if the State went bankrupt <G>. An important first indication that the State is taking an interest will be if they commission a formal appraisal of some sort. The only way the State can settle for anything like the modest financial terms that I have outlined is if they settle early. The longer the State waits, the bigger the dollar amount will become. After some point, CCO should just hold out for a final Court determined outcome. At that point, CCO could own Florida. Perhaps we could sell it back to the Federal Government (or give it to the Indians) <G>.

To: Rob Skaff who wrote (755)	4/10/1999 5:23:00 PM
From: Edwin S. Fujinaka	Read Replies (2) \| Respond to of 4686

The News Herald of Panama City may run an article about CCO in Monday's Edition (Maybe next Monday). Hopefully they may cover some of the stuff that we've been posting here. They are a small paper, but I hope that it triggers some media interest. They know about the Oil & Gas Journal estimates of tens of Billions of Barrels of Oil. They know of the Michigan vs Miller Brothers Oil Co. Case where the State had to pay around $90 Million to settle a case involving only 10.8 Million Barrels of Oil. I don't know whether the extrapolation to a thousand times more oil is valid, but if it is, we could be talking about $100 Billion (or more). Anyway, I've floated a possible settlement that could be a starting point for negotiation between Florida and CCO. Neither the State or the Company have had any hand in crafting this suggested settlement <G>: Message 8696663 Besides the issue of making money personally, there's the issue of the National Interest, Financial benefit to Florida taxpayers, and fair business dealing to consider. Hopefully we can have an honest discussion in the Florida media without all of the political demonizing of the Oil interests. We'll see.