HRP.T Harbour Petro Message Board

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Gold/Mining/Energy : HRP.T Harbour Petro

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To: Jan Johnstone who wrote (11)	10/15/1997 9:43:00 AM
From: Hemy	of 62

I think a KEY paragraph in this news release in the paragraph that states how this purchase was funded. "Funded with cash and unused lines of credit". This tells me that the $10mm that they had at the beginning of the year is gone and they have had to go back to the trough (banks) to get some more. From what I understand from insiders, they have found little to nothing from their exploration program in 1997 and have realized that they now have to do an acquisition to get some production increases. I think it would be usefule to determine what they paid for these reserves. Secondly, where is the 8.5mm for development going to come from. These guys hardly have a great track record yet and as such I would be wary. p.s. another question to ask would be why Robin Khorthals redigned from the board. It was a major deal to Harbour when he was added to the board, so why is he resigning now?

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