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Gold/Mining/Energy : International Rochester Energy Corp. (T. ROH) -- Ignore unavailable to you. Want to Upgrade?

To: stockman who wrote (233)	12/9/1997 2:17:00 PM
From: Ditchdigger	Respond to of 934

Hello Stockman, should be spudding of Estero #2, then the Canacabare #1?Listing change is rumor or hopeful thinking<IMO> Tie in-? This is from a PR from HEC it may help to give you an idea of when events may occur HARKEN ENERGY CORPORATION Colombian Exploration October 1997 Events to Monitor Last Quarter 1997: -- Drilling of the Catalina #1 - 75 days to drill and complete (Bolivar) -- Drilling of the Estero #2 - 45 days to drill and complete (Alcavavan) -- Phase I Pipeline decision for Palo Blanco field development (Alcavavan) -- Completion of seismic program (Bocachico and Cambulos) First Half 1998: -- Drilling of two exploratory wells - 75 days to drill and complete (Cambulos) -- First production from Rio Negro and Palo Blanco Phase I pipeline construction commences (Alcavavan and Bocachico) -- Drilling of an exploratory well - 75 days to drill and complete (Bolivar) -- Drilling of two exploratory wells and one development well (Alcavavan) Second Half 1998: -- Drilling of two exploratory wells (Bolivar) -- Drilling of two exploratory wells (Cambulos) -- Start-up of Palo Blanco Phase I pipeline production (Alcavavan) -- Drilling of one exploratory well (Bocachico) Historical Track Record Well Date Comment Alcaravan #1 (Alcavavan) January 1996 Dryhole Torcaz #2 (Bocachico) October 1996 Producer - 600+ BOPD Estero #1 (Alcavavan) April 1997 Producer - 4000+ BOPD Torcaz #3 (Bocachico) May 1997 Producer - 600+ BOPD Note: The current drilling schedule is subject to changes due to numerous factors, some of which are beyond the Company's control, including permitting, equipment scheduling, contiguous area drilling activity, seismic acquisition and weather. SOURCE Harken Energy Corporation DD

To: stockman who wrote (233)	12/14/1997 11:32:00 PM
From: Ed Ajootian	Read Replies (2) \| Respond to of 934

"International Rochester Energy can be thought of as "Harken Junior." The company has a joint venture deal on a relatively small portion of Harken's ground. It's a big deal for Rochester as the firm's market cap is less than 2% that of Harken. On this basis the stock is undervalued. It might at first glance look like just another Vancouver speculation. Actually, this is a high potential stock with assets that provide substantial downside protection. The company didn't have much going when it managed to get the deal with Harken. (Harken today is a much stronger company and probably wouldn't do a joint venture with the likes of Rochester.) To raise its share of the drilling money, Rochester wound up having to sell a big chunk of stock at a low price in a private placement. Profit taking by those buyers has pressured the stock ever since (except for a brief runup when the discovery was made in Colombia). But now the company is on a different footing. Harken made a splendid discovery on the Alcaravan block of which Rochester owns 25%. The well flowed at more than 4,000 barrels a day, way beyond the most optimistic expectations. Based on that well alone, independent analysts have estimated likely reserves of at least 50 million barrels, which would justify the current stock price. But there likely are other fields in the block that will push reserves considerably higher. A step-out well to the first one is on the schedule, and then an exploratory well to the north. At the same time, the companies will be doing more seismic work, perhaps recompleting the first well to produce at even higher rates (from additional formations) and engineering a pipeline to deliver the oil. Production is expected in the second half of next year. The company is now well financed, having sold $6.6 million of convertible notes in July through Dominick & Dominick. Rochester has already paid its share of the upcoming drilling program and has cash for other projects. Management indicates it is actively evaluating additional opportunities and we expect some interesting deals to emerge. " ************************************************************* Excerpt from Higher Returns newsletter. See rochester-energy.com