Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: jackie who wrote (3806)	12/9/1998 11:10:00 PM
From: Traveling Man	Read Replies (1) \| Respond to of 5504

Jackie, I would like to see that battlefield. It's my understanding that there were 30,000 dead Romans that day. To me,comparing the technology of war then to today's,it's mindboggling to imagine that much carnage in a day's battle. I think the Roman field commander didn't heed Sun Tzu's maxim,"Know your enemy". As I understand it,he lead his troops into the valley of death,unwittingly, as a former Roman officer(German)waited to pounce. Leadership is certainly going to be critical to all these microcap exploration outfits until commodity prices climb. I see the analogy well. TM

To: jackie who wrote (3806)	12/10/1998 1:50:00 PM
From: Rod Copeland	Read Replies (2) \| Respond to of 5504

Jack, My personal impressions only: 1) The current situation is worse than the mid-80's because I am still in the current one. The other one is behind me. 2) This has been a deeper and more protracted downturn. Mid-80's only lasted six months or so. We are at the one year mark on this one and have just now reached the "pain threshold" which will speed up market reaction. The mid-80's had the pain threshold kick in much earlier. 3) I expect oil prices to be much more volatile from now on. Large price swings due to the market being so sensitive. It comes from the pure volumes that are required now. Our over supply can be sucked up in much shorter time frames than previous overages. Look for volatile but overall escalating prices. 4) When this happened in the mid-80's I had just sold some production to Cigna Insurance Co. and was "fat and happy". I didn't shut in a single well. This time, I have shut in over 80% of my wells and am selling assets to keep the doors open at my business. I operate 43 wells in the Abilene, Texas area. We are producing seven wells today. 5) I agree with a replaceable reserve theory which advocates higher prices evolve when the market realizes we are no longer replacing what we are using. When the growth rate of reserves slows and the market realizes that we will be drawing from the finite number of barrels remaining, the price will move up rapidly. We don't really have to have a shortage of barrels, just the knowledge that the shortage is going to happen or can happen. That time is rapidly approaching us. I just hope to still be selling crude when it gets here. 5) So now I am hoping to go drill a few more wells while the price is right. I want to have some reserves to sell. Some people want to try to buy the reserves now too. That's a good plan, also. That's my take on the comparison from my point of view only. Its supposed to snow here tonight... that means its finally getting getting cold. Maybe it will help some on the prices. Rod