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Gold/Mining/Energy : Harken Energy Corporation (HEC) -- Ignore unavailable to you. Want to Upgrade?

To: Frank J. Zecha who wrote (2312)	1/7/1998 6:40:00 PM
From: John S. Sturges	Respond to of 5504

This release has substantial content. M.Faulkner has for the first time indicated very substantial potential reserves could be discovered this year of over 8Billion barrels. This would push HEC up 80pts. to over $85shr. Faulkner has been very conservative in his estimates so why now this very bullish statement. 1) Results to be reported late this month are likely to be positive and cause many to focus on HEC and the Cambulos potential. A takeover offer would not be unlikely. 2) Mike is concerned that shareholders would take a lower offer than the very high potential which could be realized if the drilling is successful this year. 3) His 8Billion barrel number is conservative according to Mike. A price well over $100shr. would result if HEC finds 10Billion barrels. Best regards, John