Harken Energy Corporation (HEC) Message Board

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

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To: Rod Copeland who wrote (2390)	1/22/1998 9:26:00 PM
From: John S. Sturges	Read Replies (2) of 5504

Oil took a beating because SLB indicated business weakness was possible if prices fell to $15/bl and held there and the UN is poised to let Iraq pump 2X pervious expectations. The HEC looks very big, over 1billion provable reserves if the horizontal drilling proves out. Please note the insider buying by Gary Petersen. My guess is you know him with your background. He just sent us a signal that the horizontal is going very well, M.Faulkner is also saying he is very pleased with the results. My guess is this stock is over $10shr in 3wks. and maybe moves over $15shr on the production announcements of Estero 3 and Catalina. Keep in mind, HEC still has some 7million shares which the Europeans have yet to convert and sell. This is why HEC has a 5million short interest and has difficulty in rising on this otherwise very good news. We will need at least 10million shares to be traded to clear this overhang or a Soros to take an interest much as he did in Seven Seas. Best regards, John

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