Harken Energy Corporation (HEC) Message Board

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

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To: R F B, Jr. who wrote (3763)	12/4/1998 8:15:00 PM
From: Zeev Hed	Read Replies (1) of 5504

Raymond, I thought I was generous valuing the reserves at $2, the Economist cites the following: "Another force behind the merger mania may be a perverse result of weak oil-share prices: it is now cheaper to buy oil reserves on Wall Street than by drilling your own well (see chart). This curious situation has prompted all sorts of takeover artists to buzz around the oil industry, looking for opportunities. Hicks Muse, one such firm, recently bought America's Triton—and got its reserves for about $3 a barrel. YPF, a privatised Argentine oil giant, has gobbled up Canada's Bitech, and paid less than a dollar a barrel for its reserves. And these were all proven reserves. Zeev

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