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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 (2618)	5/20/1999 1:09:00 AM
From: grayhairs	Respond to of 15703

In a previous post you stated: "Armstrong is not a public company who is able to raise money at will. They positioned themselves into the GSJB JV in a way that they are now out of the check writing business. Very smart! There is no way Armstrong could complete testing on multiple deep temblor tests in their limited financial state." I do not for a minute suggest that Armstrong was wrong in transfering the exploration risk of the first 3 GSJ exploration wells to others. I have always firmly believed that Armstrong did the deal with the JV as a means of managing his risk\reward. It is only your earlier inference that he had to do such a deal because he was "private" that I have taken objection to. Later, grayhairs