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Harken Energy Corporation (HEC) Message Board

  • spiderman_298 spiderman_298 Mar 24, 1998 9:00 AM Flag


    Let's hope this news takes the stock in the right direction now. Things should pick up today. I have owned this stock for
    some time now and it's been a real rollar coaster ride, but there seems to be hope now. I found another stock that is poised to
    take off like a rocket, symbol MTSLF (NASDAQ). This thing has a P/E of 7!!! The brokerages houses must have missed the updated
    earnings, because the stock price is only $2.25. Check it out and see for yourself. If you looking for a quick pop on something, this
    is it! I found this stock tip on the Geotek board, symbol GOTK. Good luck.

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    • This is the same analogy I made earlier this week using Seven Seas as an example. HEC has got to stop issuing stock every year
      and find another way to finance their deals. It doesn't do any thing for the current shareholders.

    • It's rocket time for PKC... thanks to great news from HEC on these forthcoming drill tests. BUT, there'll be hardly a budge on the HEC price. The answer is in the "relative" impact of the same news on the two - NUMBER OF SHARES OUTSTANDING!
      PKC - 12,290,000 shares vs HEC - 175,000,000 (225,000,000 soon)

      The obvious difference in philosophy? PKC is promoting itself for takeover, and HEC is promoting itself for long-term stability. It's hard not to be in both but the difference will show soon... real soon!

    • Time to give Yorkton a little slack. When your talking PKC or ROH these are small Venture Capital high risk companys that
      fail 9 times out of ten. Yorkton has had to raise millions of dollars for wells. Sometimes there's a price to pay when they bring
      large investors to the table. Meantime the price has gone from nowhere to $2 (High of 1.35 today). If you want security and slow
      steady gains buy HEC. If you want the big win (or big loss) toss your money on the table and hope for a win with a venture cap

    • All of the sudden, it's not so boring.

    • resistance-7 support 6.......BORING !!!!!! We need a breakout !!

    • It is worth reading for all interested in Harken and/or the Alcaravan project.

      I called Paul with some questions. He was very forthcoming. 1st, only the lower part of the Ubaque was tested, that is the results he cited are in addition to the Mirador, Gacheta and (as I understood Paul's comments) the portion of the Ubaque reported in the January 21st news release. This is lagniappe.

      His comment about 3,000 B/D being half oil is to the effect that it is also half water. This testing is very preliminary.
      Still to be determined is whether this is a bubble of oil sitting on top of water or if this structure will produce significant
      oil. The reference that "... two more sands must be tested ..." refers to the fact that the Mirador and Gacheta have not been
      tested yet. {I still have a small confusion because I did not think to resolve the contradiction between TWO more sands and his
      statement that this area of the Ubaque discussed in this report is below that previously reported.} Based on his comments this morning
      I am guessing that all of the structures reported January 21st have yet to be tested.

      Also remaining at Estero 3 is the cross testing with Estero 1. Recall that the combined testing to determine changes in underground pressures etc. is very important to discern the area of the underground reserves.

      Paul cautioned that the testing reported is very preliminary. He was receiving so many requests for information, with a rising level of frustration, that he felt he had to provide some progress report. {My interpretation of a number of his comments. I do not have a perfect memory.}

      The second point in his release is a real teaser.
      "The next well at Cambulos determines value beyond current target of $12."

      The $12 figure is based on the holes poked and testing to date. If Cambulos comes in as expected he will reset the target higher. Again there were a lot of thoughts about the potential size of that prospect. There is some speculation of a Billion barrels which could move the target to the range of $20 to $22 (I am really uncertain as to my memory of his exact comments here so treat this a pure speculation.)

      The more I think about the possibility of a hostile takeover the more concerned I am that us little guys could get kicked out far short of the goal line, or diluted by having our shares swapped for those of some large company where the new reserves would be a blip on the total asset base. I think I like the anti takeover in this case.

    • Mr. Ex,
      Malcom Butler's departure from PKC should not be construed as bad. His main claim to fame was his prior association with Seven Seas. But, as the truth is known, his stay ther was only about one month. No big deal.
      IMO his departure will eliminate a $25,000 per month cost (his salary). This savings, as opposed to the new $37,000 technical management monthly fee to be paid by PKC to HEC, yeilds a net management cost of $12,000. If Butler is not permanently replaced with someone from the outside, then operations costs should actually be better for PKC.
      I know that there is quite a bit of concern about this new financing deal between PKC and HEC, but I think it is a good deal for all...even though it appears to be one-sided to the benefit of PKC. It has strong undertones of things to come.
      Relating to a CLOSE RELATIONSHIP between HEC anf PKC, the question is "how close is close". We all know that a man does not put his arms around a woman unless he wants to kiss her. I believe HEC wants to kiss PKC. IMO, in the end they will be one company.
      I agree with your perspective of Yorkton's questionable position(s) in all of this re PKC. Since I posted my opinion on this subject in some of my previous posts, I will not elaborate on this.
      They are the fox in the hen house.

    • Why did he resign? He just started, I dont like this at all. He was a proven guy in the industry and now he is gone! Do you think PKC is still in good position wihtout him? I agree about Yorktown they are ass-----. This stock is going to go up and they may s--t on all of us with the debenture note.

    • Caplan,
      Parkcrest is now romancing the US investment market, since support from Canada on all mining and natural resource operations is very soft. PKC is planning to take their "show" on the road soon, right after the news of the Estero well is let by HEC. This will be good for all who are in it! You're absolutely right though...with the US economy doing so well, its the place to be marketing their stock.
      PKC opened this morning at $1.24 Can. , which is a very good sign. There seemed to be a resistance barrier at$1.20 Can. and now its gone, hopefully for good.
      HEC has shown very little movement from the 6 to 6 1/8 area. I beleieve that if it will take off a little, that will help the cause of the others (PKC & ROH). Ther are certainly a lot of eyes watching it right now.

    • Wade Cook's WIN Program posted a "simultrade" on HEC yesterday.
      One of their facilatators purchased a block of shares at 6 1/16.


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