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Microcap & Penny Stocks : Leah Industries, Inc. (OTC-BB-LEAH) -- Ignore unavailable to you. Want to Upgrade?

To: Baldur Fjvlnisson who wrote (1944)	5/26/1999 11:12:00 AM
From: Andrew H	Read Replies (2) \| Respond to of 2153

Baldur, the figures I have seen as probable or estimated are about 42B (billion) bbls for SM. LEAH's portion of that is 24B bbls. Now probable or estimated figures do not mean a lot until they are proven. Of course the more they can prove of these probable reserves, the more valuable the company will be if the reserves are given a BV of between .5--1/bbl. LEAH has made no bones that their plan is to build the business and sell in a year or two. We will have to see who offered them what for the manufacturing division of SM. My guess is that it was a goodly sum from a well heeled Western firm that wants to get a foothold in the soon to be booming oil business in the area. If this turns out to be the case, it shows that the West is feeling more secure about investments in Russia. As LEAH proves up more of their reserves in this area, they may be sitting pretty in a year or so when Western interests are looking to pick up large amounts of proven reserves as the price of oil continues to climb. I certainly want to see the audit and Q1 numbers asap. However, it is my guess that whatever offer LEAH received was based on those numbers.