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Gold/Mining/Energy : HEDGE CO. HEG,A -- Ignore unavailable to you. Want to Upgrade?

To: Roberth who wrote (7)	2/7/1998 5:39:00 PM
From: sgc	Respond to of 21

Hi Robert, You probably know by now what the news is, but if not, what the market seems to be so interested in right now is the Arkansas El Grande Re-Entry well. HEG has logged it with modern logging tools, and from all info released, the well looks very, very good. I also like HEG for it's Oklahoma properties. In my humble opinion, things are just getting started, plenty of upside left even after the last run. If you go over some of the older press releases (Canada Newswire), an independent firm I believe attributed possible reserves of 1 Trillion Cubic Feet of natural gas to the El Grande Prospect. If the re-entry well comes in as the company anticipates, look out ! Regards, Steve

To: Roberth who wrote (7)	2/7/1998 10:29:00 PM
From: bc	Read Replies (1) \| Respond to of 21

Robert, To give you a bit more info as well, in HEGCO'S 1997 Investor's Package, in regards to the Arkansas Properties ( The El Grande Prospect ) the following is stated. " Per independent assessment, HEGCO'S Arkoma Basin Position has been 75% risk weighted with estimated reserve values of $185,651,000 US after deducting royalties,severence taxes, capital, and operating expenses. Based on defined seismic and established reservoir thickness, HEGCO believes that this play is several times the size of the analogous Wilburton field which was discovered in 1988 and has produced in excess of 1/4 TCF of gas." In their last couple of PR's , the company indicates that next week we will get an update on the Oklahoma 3 Sands Program, and in 3 - 4 weeks we may see some kind of results from the El Grande Re-entry. If you do not have a package, or want to know more, it might be worth checking into. The IR person is Kelly Boatright and his phone number is 1-800-492-9572. Regards, Steve