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

To: Rod Copeland who wrote (4166)	2/10/1999 6:12:00 PM
From: Ed Ajootian	Read Replies (2) \| Respond to of 5504

Rod, Sorry to gang up on you buddy but we need someone to vent our frustrations on I guess! I laughed my ass off when I read in the latest release that they would only drill another well there with "industry participation"!! After the way YOUR BUDDY Mikel has treated his only two industry partners that he's ever had in Colombia, ROH and PKC, does he really think that any oil exploration company with the money would even return his phone calls about farming into such a well? NFW man -- they wouldn't touch this turkey with a ten foot pole. And don't forget the fact that they completely MISSED THE FORMATION with the first hole! Anyone who followed the ROH and PKC saga knows that Mikel has treated those guys LIKE A PIECE OF SHIT from day one, even while he would speak so nicely to them while they were at his Dallas joint. Kinda reminds me of a saying I heard from a Texas oilman once, "Don't tell me its raining while you're pissin' on my boots!" BTW, according to my understanding, having the Cimarrona not be productive pretty much blows the whole geologic theory of this being an extension of the Emerald Mountain field. Having the deeper formation be productive does nothing to help that theory IMO. In other words, the dreams of billions of bbls. of oil in this contract are virtually shattered now and now its on to more mundane targets.

To: Rod Copeland who wrote (4166)	2/11/1999 10:29:00 AM
From: mt_roman	Read Replies (2) \| Respond to of 5504

Harken will not release any stock moving news until they have accomplished the majority of their stock buy back. Do you think Faulkner does not have a set range in which he will purchase HEC stock? If he could hold share price down to purchase these shares cheap, and still remain within the framework of law, don't you think it would be wise to do so? Need I explain the value of a 10,000,000 dollar by back in terms of volume of share or purchasing power? A 10million dollar investment at these lows, or lower, can provide 4 or 5 that much leverage when alliances need to be formed and the oil industry rebounds. If he did not "manipulate HEC" he would be doing Harken a great disservice. He has reasoned that the investor needs be sacrificed, short term, so that Harken may survive long term. This is Faulkner's mindset they way I see it. It seems simple that it is in Harken's best interest to keep stock price low at present. Mt_Roman