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Gold/Mining/Energy : KOB.TO - East Lost Hills & GSJB joint venture -- Ignore unavailable to you. Want to Upgrade?

To: okey who wrote (2595)	5/19/1999 10:38:00 PM
From: grayhairs	Read Replies (2) \| Respond to of 15703

Hi okey, My point is simple -- the table is misleading because it hints that the GSJB prospects have the same value as ELH. That of course is a complete "crock of rot" and that needs to be stated somewhere !!!!!!! <<To not include the GSJB JV interests would be leaving out tremendous possibilities (which at this point that's all it is).>> Then it is equally wrong to leave out the tremendous possibilities that would be implied by a comparable "unrisked" evaluation of all other exploration prospects held by a company such as BKP !!! Why include the singular (but inactive) exploration prospect of Trimark and exclude substantially all of the exploration prospects of the other companies ?? <<Armstrong is not a public company who is able to raise money at will>> They raised all the money they needed to drill ELH, didn't they ?? And they did that without even having had a hydrocarbon show in the deep Temblor (let alone a well blowing wild at 100-130 MMCF/d !!!!). Raising money to drill 3 additional deep Temblor tests while retaining a very significant carried interest would have been a "piece of cake" after the blow out. They preferred to cash in. Being private had precious little to do with their decision to vend. JMHOBWTHDIK. <<By the way it wasn't a pittance.....>> You are correct, it was not a pittance. But, it certainly was a pittance in comparison to the value implied for the GSJB properties in the EJ valuation !!!!!!!! Have a pleasant evening. Later, grayhairs