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

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Greg Burton who wrote (28)	2/19/1997 8:18:00 PM
From: R F B, Jr.	of 188

Greg : You're one step ahead of me as I was not aware of any new European convertible bonds. Many people I talk to believe that HEC should be at $7-$10 now. Quite possibly the company is sitting on a bunch of news to help in this end or to cushion any blows from a dry hole in Alcaravan. I had the same reaction you are now having when HEC and Huffco decided to drill here last spring. I felt certain that with all the info they had, the possibilities of a dry hole were miniscule. Boy was I wrong. The 1st well they dig in Colombia and it comes up lame. This on top of the fact that they came up lame in Bahrain on two holes there as well. In fact, HEC had never hit any oil internationally when I first bought it. HEC has recovered nicely from then. Thank God. Clean-up of Torcaz #2 and the possible JV announcement will have the biggest effect on the stock IMO within the next two months barring a gusher in Palo Blanco. This area has to be drilled now due to the rainy season which make the roads and drilling impossible after the end of March. I'm sure that all data from Huffco drilling has been studied and chances of success here are probably greater than your 45%. As long as oil is found, they can delay the numbers (look at Torcaz), come out with Torcaz numbers, JV and voila, the price has risen. I've thought all along that Torcaz #2 probably contains 2 or 3 times the probable reserves they have already stated. HEC has been extremely conservative in their announcements. Why do you think they need to issue those bonds? It doesn't make any sense unless of course they have a trigger price for conversion at $10 or $15 and plan on forcing conversion before the end of the year. Any oil is good for HEC because it shows they are working on their program and gathering reserves. Regards, RFB

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next