Harken Energy Corporation (HEC) Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Harken Energy Corporation (HEC)

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Rod Copeland who wrote (4518)	8/16/1999 6:14:00 PM
From: Robert Sanders	Read Replies (1) of 5504

Burlington Resources to Acquire Poco Petroleums Poco Petroleums (POC/Toronto) is being acquired by Burlington Resrources (BR) it was just reported on CNBC. POC was one of the 25 presenters at the Denver O&G Conference. Their proven reserves, as of 12/31/98, were approximately 400 million barrels, compared to HEC's 50 million as of same date. POC's operations are in western Canada and their oil/gas mix is 45/55. The report I read said that BR will acquire at a price between C$16-17.5, roughly a 20% premium to their trading price today. POC's long-term debt/equity ratio is listed at 47% in the O&G Conf. catalogue, as opposed to HEC's 32%. Doesn't look like a huge premium, but was encouraged to see an exploration firm acquired by a bigger fish. Hope it's the start of a trend.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next