Harken Energy Corporation (HEC) Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Harken Energy Corporation (HEC)

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Gabriela Neri who wrote (2256)	12/17/1997 8:07:00 PM
From: John S. Sturges	Read Replies (1) of 5504

HEC has been under pressure from active selling out of Asia. Holders needed liquidity as home markets have been pelted and HEC gives them dollars which they needed. Pressure from this source continues, the conversion price for the convertible note which they hold is at $5shr. The stock should be stable here. Also, don't forget OPEC just scared the oil bulls with the raising of quotas, mind you they were already pumping at these levels for 2yrs. and oil prices were rising. Also, the collapse of the Asian markets created a fear at the same time that a world recession would occur and oil proces would falter. If you look around you will also see few small cap oil stocks have rebounded since the sell off in Oct. Since, the story here is discovery and not oil price you have to wait for the discovery announcements and not worry about these type of fluctuations. HEC's management has assured me they are on schedule and "very pleased" with their drilling results in the latest prospect. This one looks very good. The management is not prone to hype. Keep an eye on Seven Seas announcements in the next 10dys. They should be positive for the stock if the selling from Asia lets up. John

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next