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Gold/Mining/Energy : Harken Energy Corporation (HEC)
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To: Traveling Man who wrote (4088)1/26/1999 9:57:00 PM
From: Robert Sanders  Read Replies (1) of 5504
 
Traveling Man,

Thanks for the information. I wish it were more positive, but it's better to be informed.

So, it sounds like the situation is this: the area where HEC has their contracts is plentiful with oil, but the difficult terrain makes it more expensive and challenging to extract. To compound the problem, the small-fry drillers have a hard time attracting the most experienced people to do the drilling because Columbia is unstable and a dangerous place to work.

So, what if HEC ran through their funds for exploration? Are we talking Chapter 11, or would they just sell out to someone else who had the resources to develop these sites? Because it seems like they've already attained substantial reserves in Columbia.

Anyone's input is appreciated. I got in pretty low, but am trying to decide what to for the long haul. Thanks.

Bob
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