ARAKIS: HIGH RISK OIL PLAY (AKSEF) Message Board

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Gold/Mining/Energy : ARAKIS: HIGH RISK OIL PLAY (AKSEF)

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To: Zeev Hed who wrote (5978)	6/6/1997 10:47:00 PM
From: richard hawkins	of 9164

Zeev: <<<This little puppy actually fought back today like mad, it wanted to register another day of "higher low" (whatever that means) and did it! But gosh, the volume was pittyful.>>> I've got to say the puppy was lethargic today. I think maybe "Larvia" put some sleeping pills in her puppy chow. But thanks for pointing out the "higher low" accomplishment, Zeev. It could be that Harken stole some thunder today. These two are very similar situations and are probably followed by a lot of the same eyes. In fact it is remarkable how similar they are. Both have nearly 100 million share caps. Both are international exploration companies with "elephant"-size objectives. Both operate under adverse conditions including rebel subversion and rainy seasons. Both have done Reg S conv. bond offerings diluting shareholders and setting up massive resistance on the upside (HEC even announced another one of these into the teeth of the euphoria today) Both have the letters "ARK" in their names. Both have disappointed investors and spent time in the doghouse. I first bought HEC in 1990 when they were awarded the Bahrain concession and George Bush Jr. was a director. It dropped from 9 to below 1 in subsequent years before they began amassing their acreage in Columbia. The market is now warming up to HEC with the advent of some bullish press and the Oppenheimer recommendation. I still expect to see massive accumulation of AKSEF shares as we approach the deadline for proxies (does anyone know the record date for this?); but, as Zeev cautioned, if volume doesn't pick up dramatically and soon will have to rethink the logic and probably pay more heed to Mark's warning about AKSEFs propensity to defy logic.

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