International Rochester Energy Corp. (V. ROH) Message Board

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Gold/Mining/Energy : International Rochester Energy Corp. (V. ROH)

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To: Greg Burton who wrote (15)	2/17/1997 2:54:00 PM
From: R F B, Jr.	of 188

Greg : I've gone over other posts on other threads here on SI and refer you to the following one which may help techstocks.com That one is from someone I consider extremely knowledgable, upfront, & honest. I have also reviewed several brokerage recommendations for Harken Energy and have found that Fahnestock analysts Fadel Gheit has on seperate occasions discounted bopd price to $5 and $4. As I said, $3 bo in the ground is conservative and $5 is high. $4 might be the proper balance. I've used all three prices in my own calculations at random. The differences between $3,$4, & $5 can make or break an opportunity if you were talking limited upside potential. We do not have such limitations as far as HEC goes IMO. You may have these limits however when talking about purchasing ROR. The $15 per barrel price presents a world of difference in any analysis and should be avoided IMHO. Dry hole for ROR in Palo Blanco would put them on hold for another year as rainy season will be upon them by end of March and don't believe they could drill another hole before the inset of same. Let's hope that Estero #1 comes up a gusher for all parties concerned. Good luck to us all. RFB

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