Eldorado Exploration Inc (fka EDEP)

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Yea, near as I figured, based on the market cap, they had about 50M shares. Actually, they have 75M A/S. But, they are only doing small interests.

In the Mesa we have 35% and 65%, and this is on a possible hugh field. This said, the Mesa could sell for $400 to $600M next spring/summer. A dollar or two dividend would bring us up to these levels with no problem. Tom has indicated to me that a fair offer would let him sell this field and move to the other two next to this one, pay a dividend AND start a drill company or buy rigs at our choice!

IMO, if we do strike pay in the Mesa, we will be at a pps of $3.00 next summer after proving out the field with the 2nd and 3rd drill.

None of this includes the Glasscock 5%, Palo Duro basin 20% of all wells, (which could be hundreds), Harteman 5%, and others (already lined up in Tom's mind) that would quickly arise if the Mesa hits pay.

The Mesa looms large for us, but even moreso for Tom with his 40% interest in EDEX hitting pay!

Thanks though for pointing out the share difference.

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