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Gold/Mining/Energy : Parkcrest Explorations Ltd. (PKC) Harken (HEC) partner
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To: Jeff who wrote (229)12/31/1998 8:48:00 PM
From: SnakeInATuxedo  Read Replies (1) of 261
 
I believe we're OK here, Jeff. Harken slid most of this month on tax-selling and nervousness over that well they're doing right now. They got their bit stuck in shale over 7000' down and are going to have to come up-hole about 500' and side-slip a new hole the rest of the way down and hope they don't get stuck again going through the shale. I can tell you drilling through shale is always an iffy proposition. There's been bottom-fishing in HEC all week this week; barring some real problem it should be back in the $3-$4 range by mid-January, and PKC is going to basically trade like a perpetual "call" on Harken, until they decide what direction they want to take on their own.
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