International Rochester Energy Corp. (V. ROH) Message Board

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Gold/Mining/Energy : International Rochester Energy Corp. (V. ROH)

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To: Don Plant who wrote (130)	3/25/1997 7:07:00 PM
From: Ed Ajootian	of 188

Don, After I posted the message to you I called them and found out that Harken still can dictate what ROR or PKC put out as news releases on the Alcavaran Contract. So since Harken wants to downplay the discovery you just put two & two together and the bet from here is that we will not see any news coming out from these companies on the Estero well or a any thing else relating to the Alcavaran Contract for many moons. Hope- fully I lose my bet! Good to hear the fiscal year is ending now. Oppenheimer has done an update on Harken and discusses the Estero well at some length. They feel this discovery will find 40 --50 mmbo total, and that all told they will find 125 -- 150 mmbo gross in this acreage once the other two features are drilled (which they project will occur late this year or early '98). At 125 mmbo, using a net revenue interest of 10% for ROR (ie Ecopetrol backs in), and $4 for a bbl. of oil in the ground this works out to a value of C$2.80 per share for ROR. per share

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