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

To: Craig Lawler who wrote (3793)	12/8/1998 7:10:00 PM
From: Arktic	Respond to of 5504

I'll leave the answer to this one in the hands of more knowledgeable players closer to the fire. Rod... thoughts? From my perspective, short of an international crisis causing a bottleneck in supply, oil prices are down for the count and won't rebound immediately. Supply has outstripped demand and the normal course of economic response will occur. Basically, prices will remain down for a while. Demand will eventually outstrip existing supplies and new discoveries will not have been drilled due to low prices. So, the price will recover and the long term average price of oil will prevail. We won't be at the bottom of the cycle forever but we won't rebound immediately either. Paul L. Craig