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Harken Energy Corporation (HEC) Message Board

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  • dhrosier dhrosier Mar 14, 1998 1:59 PM Flag

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    I have resisted the temptation to trade out of Harken to buy into some of the flyers that have been talked up on the Neuen
    Market. My concern is that I am never lucky at guessing when to trade whenever I try to out guess the pros. I expect a few investors
    with large amounts to invest will be able to track projects like Cambulos without violating insider information rules. How? Send
    someone to the drill site for example. It is not that expensive when there are $ millions in the balance. {Not MY millions, but
    there are some playing stakes of that size.}

    Estero #3 is exciting because it will be a step towards delineating the Palo Blanco field. You should reread the report that
    Estero #3 evaluation was "favorable" by following the link below. Note that Estero #1 flowed 4,000 barrels of oil per day, not bad
    by itself, from only one formation (the Ubaque). There are many important questions that remain. First, how long will the 4,000
    bopd continue from the Ubaque? They cannot tell the size of the underground reservoir except by drilling other areas around it
    and testing the flow rates {and other stuff I do not understand} of the two bores against each other. So, is the Estero #1
    reservoir only a few hundred square yards? or MILES? or whatever!

    Estero #3 will also test other depths. If you think of a vertical bore, there are often several reservoirs "stacked" on top
    of one another separated by hundreds of feet of rock, dirt and God only knows what all. I tried to find how much deeper 3 will
    go than 1 but could not right away. However, the article linked below suggests that both the Guadaloupe and Mirador formations
    are bigger than the Ubaque at the point at which #3 penetrated them. It could turn out that Estero 1 will also be productive at
    the Guadalupe and Mirador.

    But hey, I am not an oil expert. Some one with better knowledge may jump in and explain it MUCH better. But Estero 3 is important because it has a lot of promise even though it has not generated the excitement of the Cambulos.

    target=new >http://biz.yahoo.com/prnews/980121/tx_harken__1.html

 

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