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Harken Energy Corporation (HEC) Message Board

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  • bgoldwp bgoldwp Jan 17, 1998 9:48 AM Flag

    Look at Jr. Players

    Looks like a decent risk .71-3.25 52 wk. If you have any more info on tril please post. Got 15% of portfolio sitting in cash looking for some risk.

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    • Spoke with Paul Hayes (Longtime HEC Cheerleader) he still has
      his 12 month at $14--and yes it is cold up in Canada. I'm going to list his Stock Valuation a little summarized and I hope it comes out in the same format that I'm typing now.

      RESERVE ESTIMATES

      Based on 122 shares outstanding

      US (summarized) approx. $220 mil Proved = 1.67/share
      US (summarized) approx. $150mil Prob/Poss= 1.10/share

      COLUMBIA ($$=PV in millions)
      Rio Negro-2wells: $2mil proved= $2mill
      Rio Negro-probable: $180 probable (50%) = $90mil
      Rio Negro-Possible: $240 possible(25%)= $60mil
      Palo Blanco proved: $110 proved= $110mil
      Emerald Mt-1st well : $24possible(25%)= $6mil
      Emerald Mt. (all): $2,000 possible(25%)= $500mil
      Catalina #1: $20 possible(25%)= $5mil
      Bolivar Agreement $2,000possible(25%)= $500mil
      Undeveloped Acreage: $10@100% (sale price)= $10mil

      **These #'s take into consideration the Net Revenue Interest (Basically what the 50% the big "E" will take+ The % interest Hec has in each contract)


      THUS: NAV for Columbia = 1,283 mil /122mil out standing=10.52/share
      10.52+2.77(US)=13.29 TOTAL

      COMMENTS: Lets concerntrate on the Big Boys (Emerald Mountain and Bolivar). I know I didn't include the Net BOE for each well but they are estimating that they have a possible find of 500 mil bbl for both. And then they multiple by the standard (25%-possible)). If either one of these is a billion that will result in a PV of $4,000 mil vs. the $500 that is out there now. I Hope this helps everyne with their calculations.

      The Gusher

    • bgoldwp:

      A ways back you asked for more TRIL info.

      Jumped 24% today, on no news release, however the log reading are in and first hand witnesses state that the well is being cased for production. Drilled down to 11,300 ft, sttopped for casing, after casing (approx 7 days work), drilling to continue to 12,500 ft. I suspect the drillers and insiders all ready know there is a big find here and went on a buying spree today.

      This strike could turn Tri-Valley into California's largest natural gas provide within the few months IMO. They are no.2 right now, no.1 is AHC.

      rjoec

 

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