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

To: Rob Skaff who wrote (810)	5/7/1999 11:28:00 PM
From: Edwin S. Fujinaka	Respond to of 4686

I still don't have a clue as to why we are having this modest runup. Don't forget that in April of 1998 the stock was as high as $4.50. I can only conjecture that the May 12th date for oral arguments before the Appeals Court may have something to do with it. I was also conjecturing that perhaps the litigants could be discussing the glimmer of a settlement while they are gearing up to present their oral arguments, but I have no indication that anything is really going on. It seems perfectly reasonable to me that the stock price ought to be drifting upwards until close to the ruling by the Appeals Court. I would expect some volatility just prior to the Court's ruling and then an explosive move after the ruling. The question is: will the price movement be up or down <G>. I would expect a two or perhaps four times price movement in the following day or two.

To: Rob Skaff who wrote (810)	5/8/1999 11:37:00 PM
From: Edwin S. Fujinaka	Read Replies (1) \| Respond to of 4686

Someone pointed out that many people who got the Annual Report last week also got a Reprint of the Oil & Gas Journal Article of February 8, 1999 that really was the first mention of a possible tens of Billions of Barrels of oil on CCO leases. It could well be that the distribution of that article to all of the CCO shareholders was the real reason that the Stock Price moved up a little. Now that all of the CCO shareholders know about the new estimates for the quantities of oil, perhaps they are less inclined to sell their CCO Stock. This effect may keep the stock price from immediately drifting lower while the Court is deliberating on this case. As active participants on this SI BB, we may tend to forget that all of the information that we have been discussing for months is not common knowledge, even to the stockholders of the Company. It makes me wonder what the additional impact might be if that May 8, 1998 Article in the Detroit Free Press that described the legal outcome of the Michigan versus Miller Oil Co Case could also be distributed to all of the CCO Shareholders. They might find it interesting that a case involving a State preventing the drilling for an estimated 10.8 Million Barrels of oil resulted in the State paying around $90 Million. I know that I keep repeating myself, but it should be imprinted in everyone's mind so the big dollar numbers don't get too intimidating. Who knows, perhaps it will encourage the State to consider settling this case out of court before the numbers get any bigger.