Robert,
To give you a bit more info as well, in HEGCO'S 1997 Investor's Package, in regards to the Arkansas Properties ( The El Grande Prospect ) the following is stated.
" Per independent assessment, HEGCO'S Arkoma Basin Position has been 75% risk weighted with estimated reserve values of $185,651,000 US after deducting royalties,severence taxes, capital, and operating expenses. Based on defined seismic and established reservoir thickness, HEGCO believes that this play is several times the size of the analogous Wilburton field which was discovered in 1988 and has produced in excess of 1/4 TCF of gas."
In their last couple of PR's , the company indicates that next week we will get an update on the Oklahoma 3 Sands Program, and in 3 - 4 weeks we may see some kind of results from the El Grande Re-entry.
If you do not have a package, or want to know more, it might be worth checking into. The IR person is Kelly Boatright and his phone number is 1-800-492-9572.
Regards,
Steve |
