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Gold/Mining/Energy : Parkcrest Explorations Ltd. - Discovery 4,116 BPD
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To: leaf who wrote (37)12/2/1997 9:58:00 PM
From: Ed Ajootian  Read Replies (1) of 94
 
Leaf,

I think a lot of the selling over the past several weeks has been folks just getting liquid so they can buy into the private offering the company is doing.

I'll now tell you what news I got from the bug I had placed in the
Harken conference room where they met today to discuss the latest Palo
Blanco plans with their partners ROH and PKC. <am I g'ing or not?> <gg>

The word is the rig for the next Estero well is being mobilized AS WE
SPEAK and they could spud next week, maybe as early as 12/10! With HEC's
stock getting creamed as much it is, it would be a pretty good bet that
Mikel will try to rally the troops and will play his ace in the hole at
such point. That is, in the release announcing the spudding, he could
also release the info. about the petroleum engineering firm's study re:
the potential for the prospect overall. Once the market hears that these
wells could do 10,000 bbls. a day the stock will light up like a
Christmas tree, you watch.

They still are on schedule to start trucking out some oil from the
Estero #1 prior to year-end. They are shooting for an April completion
date for Stage 1 of the pipeline. At that point it would seem that both
Estero wells could be tied in.

Although PKC should pop on this news I believe the most leverage you can get from it is with ROH shares.
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