David thanks for the reply: I don't own ROR or PKC, IMO the best play
Is Harken. As for the "two holes" you mention, I would like to know
where your information has come from? You are the second person I
have heard talk of this, RFB also mentioned, in post #796 an additional 2 or 3 wells. I have been unable to confirm this and would
like a source.
This is a quotation from form 10-K405 filed with the sec for the
period ending 1996 filed by Harken.
" In January 1997,Harken de Columbia, Ltd. entered into a financing agreement ("the Parkcrest Financing Agreement") with Parkcrest Exploration, Ltd. (" Parkcrest", a canadian corporation) which covers the Palo Blanco prospect, and includes options on additional prospects, all located within the Alcaravan Contract area. Under the terms of the Parkcrest Financing Agreement, Parkcrest paid a project fee of $250,000 to Harken and prepaid 33 1/2% of the estimated drilling and completion costs of the initial well to be drilled on the Palo Blanco prospect in exchage for a beneficial interest equal to 25% of the interest held by Harken de Columbia, Ltd. in the Palo Blanco prospect. In January 1997, Harken received from Parkcrest approximately $783,000 representing the initial $250,000 payment and the prepayment of Parkcrest"s shares of the estimated drilling costs of the first well to drilled in the Palo Blanco prospect, the Estero #1 well. In February 1997, Harken also received from Parkcrest approximately $301,000 representing the prepayment of Parkcrest's share of the estimated completion and contingency costs of the Estero #1 well to be drilled on the Palo Blanco prospect." I do see from the above quote that, Parkcrest does have options on additional prospects, all located in the Alcaravan Contract area. But
I see no mention of additional holes or an obligation to drill additional holes (I'm sure the will!). Also, Harken makes no mention of any further drilling in this area in the press release Mar. 10 ** Harken Outlines 1997 Exploration Plans in Columbia**. Perhaps the"ll drill in 1998?
For these reasons I believe Harken is the play in this triangle.
Regards
KWD
PS: I have to agree with RFB, Harken seems to always leave an out, if needed,** although as I stated I believe they would want to develope this area. |
