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

To: Arktic who wrote (3529)	9/7/1998 4:23:00 PM
From: Ed Ajootian	Respond to of 5504

Paul, Strain's June update on HEC said even if you throw the extension of the Emerald Mountain field out the door (ie Islero is dry), they still have identified enough other stuff that could take the stock to $15. Most of this is in the Bolivar area. BTW, Strain says if the well validates HEC's geological interpretation they could find upwards of 650 feet of pay in the Islero! The Seven Seas wells typically have been getting around 250 feet of pay I believe. Hope they got a solid rig! Latest buzz about the date HEC plans to turn on the Palo Blanco pipeline is 10/1. I wonder whether they're slowing down the pace on purpose now that they see October prices a buck or more higher than what they would get if they turned it on now! Could also be the usual Colombian approval delays too I suppose. Can't wait for third quarter to come to an end. This will be the last quarter in HEC's history without any significant Colombian cash flow. Wondering whether HEC will deem it appropriate to mention in their next news release what the results of the 3-D shoot was. Normally that sort of stuff would not get announced by a company this big, but as you recall they _did intimate (in conjunction with announcing test results) that the Estero 3 appeared to increase the size of the field by 200 -- 400% so it would be incumbent on Mikel to follow up on that jive, yea or nea, as soon as the 3-D shoot is interpreted. I understand that is just a week or so away.