Harken Energy Corporation (HEC) Message Board

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

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To: Ed Ajootian who wrote (4386)	5/20/1999 12:09:00 AM
From: Robert Sanders	Read Replies (1) of 5504

Pipeline Status HEC has completed a pipeline in the Alcaravan/Miradores contract areas and is currently pumping "test volumes". Their press release about a month back said they would start at 400 BPD and increase gradually to around 3,000 BPD. The pipeline is capable of transporting 4,000 BPD but I believe they said they don't have a pump large enough for maximum production. I am not an expert on the technical aspects of oil production. Regarding the cost of drilling wells, we know that their last well, Islero #1 costs between $20-25 million. They had two sidetracks, which I assume made it more costly, but this affirms the prior post that these wells are expensive to drill. The other proposed pipeline would be part of the Bolivar development project which depends on financing by the IFC. The IFC Board is set to vote on the proposal to lend $55 million to HEC on May 25th I believe. Also, there are many more relevant posts on HEC on the Yahoo! board. Regards, Bob

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