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

To: Arktic who wrote (2457)	1/31/1998 7:43:00 AM
From: John S. Sturges	Read Replies (2) \| Respond to of 5504

There is talk of a 2billion provable reserve addition. This would justify $20shr. However, it very much depends upon the market and the still 6million share overhang from the European Notes which will be sold into any up movement. Also, one well does not make a 2billion reserve. You need several dozen wells to prove out the full extent of the find. If the market rushes into this stock with this foreward looking assumption then you will get $20shr+ for about a week or so and if you are smart you will sell into it. If HEC just gets to $10-$12 then only the current discovery plus a little more expectation is factored into the price, I would then hold the stock. So much of pricing is the street expectation and if we get new investors so the price range has to be flexible. Best regards, John