Silicon Investor (SI) -- The First Internet Community

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

To: Ditchdigger who wrote (2343)	1/13/1998 10:07:00 PM
From: Gabriela Neri	Read Replies (1) \| Respond to of 5504

This is not the way I look at this situation. Production is irrelevant at this stage. Finding reserves is the name of the game, nothing more, nothing less. They need to drill and hit paydirt, and after that they need to drill again and hit paydirt. Seven Seas has drilled and hit paydirt, and now they are trying to determine how much paydirt they got by drilling delineation wells. Harken needs to drill exploration wells and find oil in the major contract areas to get to the point where they can start drilling delineation wells. If you want oil production you got the wrong stock-buy Exxon. If you want a company with exploration potential buy HEC. If you want a company with exploration success but is still attempting to determine how much success-buy Seven Seas. There aint that many billion barrel fields in the world. What are the odds thatSeven Seas and Harken both find billion barrel fields? Seven Seas is in the process of proving to the world that they have a billion. Harken is selling hope for cash. It is going to be very interesting. I like them both but they are very different bets.

To: Ditchdigger who wrote (2343)	1/13/1998 10:42:00 PM
From: John S. Sturges	Respond to of 5504

I would still play HEC only for the discovery in the Cambulos over the next 6mos. If you look at Triton(OIL-NYSE) or Seven Seas(SEV-AMEX) you will note that the discoveries were fully priced early. Neither has regained peak pricing since and both have had substantial corrections before regaining territory. OIL is currently struggling. If this is what the market wants to do then you and I have to be nimble in these issues to take some or all off the "top" as best we can. Otherwise the market may have you in these issues awaiting a return to the "payoff" you could have had the first couple of weeks of market rise after hitting a large find. Be nimble. Best regards, John