For what its worth, I would post this comment for all HEC players.
I was involved in the IPO of Harken (audit manager with CPA firm) and shortly after the IPO was hired as Harken's Assistant Treasurer.
M. Faulkner came on board three years after I started, and is, IMO,
the sole reason Harken is where it is today.
I left HEC to start my own O&G Development company and have not regretted it. Mike had just come onboard when I left. HEC was mired in funding from Merrill Lynch Limited Partnerships.They were drilling in areas in which HEC had no expertise and were not meeting ML's performance criteria.
Faulkner is about as fine a person as you will ever meet. Strong in principles, dedicated, and very confident. He borders on the genius side of structuring deals, and is very shrewd. He is honest and will not mislead or lie... or even stretch the truth. If he says it, he believes it. But along with all of this, you must remain aware that he is going to take care of business to HEC's (and His) benefit. He IS very methodical. He's a former Aurther Anderson CPA. He likes to "swing for the bleachers" and he will "connect" someday.
I have been playing HEC for several years and have done fairly well just off the rumors while drilling in Bahrain. This Columbia play has them gyrating again and may be what Faulkner has been looking for.
After 18 years of drilling and operating my own production, I can tell you this, there is only one way to judge any well, and that comes when it is time to plug it. In the stock game, tests and initial potentials generate opportunities. In the oil game, they generate a lot of heartache. I like to take advantage of the opportunities, but I can't forget the heartache. A balance is necessary.
I am a newbie to SI and hope this hasn't been a waste of space and time. HEC is definately a good place to be at less than $8. We just have to be patient. I think this is a pretty good bet at the current price.
Best Wishes for the Holidays !
Rod Copeland |
