Parkcrest Explorations Ltd. (PKC) Harken (HEC) partner Message Board

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Gold/Mining/Energy : Parkcrest Explorations Ltd. (PKC) Harken (HEC) partner

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To: Ed Ajootian who wrote (145)	6/1/1998 10:17:00 PM
From: Jeff	Read Replies (1) of 261

news Palo Blanco drilling results Parkcrest Explorations Ltd PKC Shares issued 11,207,637 May 29 close $0.80 Mon 1 Jun 98 News Release Mr. Robert Lipsett reports The production tests of the final two formations (the Guadalupe and Mirador) in the Estero No. 3 well, failed to produce oil in commercial quantities. Parkcrest previously announced successful production tests of the Ubaque formation in the Palo Blanco field. Parkcrest holds a 25 per cent beneficial interest in this discovery field where the first well, Estero No. 1 tested at 4,116 bopd from the Ubaque formation. 3D seismic processing and interpretation is under way and will clarify the reserve potential. Harken de Colombia, the operator and a subsidiary of Harken Energy of Dallas, Texas, will now proceed to establish daily production by truck until the first stage of pipeline is completed. Harken is preparing to lay a short pipeline spur 2-3 miles long, connecting this field to the existing pipeline transportation infrastructure. Down to .65 on this. This drops another .15 and I'm buying more. Not many places I know of you can have 25% of 1 to 2 thousand bopd for .50

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