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: Razorbak who wrote (5988)	6/7/1997 12:30:00 PM
From: R F B, Jr.	of 9164

Razorbak : There was a time (before JV) that Arakis' potential for appreciation may have been greater than HEC's. Today they probably have about the same potential. AKSEF has the oil. They just have to get it out. HEC believes they have a great opportunity to increase reserves to about 4 bbo. AKSEF's JV may have greater upside potential but the part that will remain with Arakis is smaller than originally thought. IMO it would be foolish to take profits on HEC with results of Torcaz #3, #2 and Estero #1 still pending. However, if the price continues to move without any news, and approaches being overvalued even after the announcements, I'm sure you will see many people take some profit off the table. The similarities between HEC and AKSEF ended after the JV announcement IMO. HEC is the tortoise....AKSEF...the hare. RFB

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