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

To: Robert Sanders who wrote (4217)	2/19/1999 11:13:00 AM
From: Traveling Man	Respond to of 5504

Robert, I,like you,am a value investor and am much more likely to buy shares selling for less than book. A perspective I would offer here though is this: My experience with exploration company investing has taught me that these type companies can rapidly deplete their assets in the high risk search for tangible assets, all the while having almost no revenue to replenish the war chest. Just a reminder that the book value can change dramatically in a short time. I've seen supposedly good explo outfits deplete $31 million in cash with 0 return so fast it made my head swim. TM