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

To: Rod Copeland who wrote (3349)	8/8/1998 11:02:00 AM
From: Randy Clemmons	Respond to of 5504

Rod HEC does have U.S. domestic interest, but as you know the real play is in Colombia. Could it be that the U.S. producers are putting oil in local storage tanks and waiting for better prices. At what price per barrel can the domestic U.S. companies break even. I expect that the depressed oil prices have forced domestic deliveries to slow. Also we are at the end of the peak summer consumption. Something is wrong when oil and gas are cheaper that bottled drinking water. The Asian crisis, technological advances, and lack controlled OPEC production have given us a temporary surplus. Soon people will realize that there is a finite amount of oil, and the glass could very well be half empty. I'm happy with my recent decision to double my long HEC position. Randy