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Harken Energy Corporation (HEC) Message Board

  • sanlouisshark1964 sanlouisshark1964 Jul 14, 1999 1:16 PM Flag

    oilseeker, your posts are good but you

    have fallen into the same slumber that most
    investors have regarding the Bolivar. Management, working
    with Columbia (Columbia has to pay 1/2 of the pipeline
    costs) has chosen to construct a pipeline that will
    carry 150,000 barrels per day.

    I agree, I can't
    wait to see 30,000, but that is short term thinking
    when it comes to the oil in the Bolivar.

    They
    won't spend the $'s to build 150,000 just to carry
    30,000.

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • When an order, especially a huge one, comes
      across the board but does not effect the ASK or BID
      size, it is usually a "CROSSED" order. Crossed orders
      are transactions between private parties, never the
      less, the SEC requires that they must be reported,
      documented, and approved by the exchanges.

      Regards

    • I understand the drill where the trading is 1 for
      1 mapping. However, I think the guys running the
      HEC trades (AMEX - what? specialists or floor brokers
      or market makers?) are doing a lot of trading from
      inventory. Of course they are not going to go to one extreme
      or the other unless they are trying to build a long
      position, or have built one buying from the short sellers.
      Given the trading pattern today and my own brief
      glimpse I expect the 70k deal was a non floor person
      buying.

    • ""not all trades at bid are sells...Earlier I
      mentioned that I bot 4k at 1 15/16s when the ask was a
      solid $2. I see 70k listed at 1 15/16s. I am guessing
      it is just as likely a negotiated buy like my much
      smaller leap ourwards.""

      You are playing a
      semantics game.

      For every seller there is a buyer.
      All trades entered at BID are MARKET sell orders.
      MARKET sell orders sell into limit buy orders. Example:
      Let�s say I want to buy HEC at $1 15/16. Since the ASK
      is $2 if I enter a MARKET buy order I get charged $2
      per share. So I enter a limit buy at $1 15/16 and
      hope somebody enters a MARKET sell order and that
      there aren�t too many people ahead of me. If the BID
      size is small, I�ll have a decent chance of my order
      getting filled otherwise there is a good chance my order
      will go unfilled.

      Regards

    • to look like shorts have covered their positions.Does anyone have latest information on how many shares are still trading short.
      good luck (maybe2 1/16 today)
      tom

    • Earlier I mentioned that I bot 4k at 1 15/16s when the ask was a solid $2. I see 70k listed at 1 15/16s. I am guessing it is just as likely a negotiated buy like my much smaller leap ourwards.

    • oil maintains a $15 a barrel price and if HEC
      gets production up to 150,000 BPD, the net cash flow
      to HEC will be $250 Million per year.

      Takes a
      long view to hold for this, but if HEC realizes the
      above, the stock price will be quite high.

    • Nice... Where's Raptor????

      Regards

    • The cost per "barrel of crude oil" changed to
      "operating companies" by government agencies, in the form of
      taxes and royalties. In those Middle East countries
      where nationalization is not yet total, calculations
      are based on averages between the cost of "equity"
      and "participation crudes," less production costs.
      This system is replacing the "posted prices"
      system.

      Regards

    • I also get about $20 million revenue per quarter
      assuming the pipeline is at 30,000 bopd, HEC's Colombia
      oil sells at about a $2 discount to current oil
      price, and excluding Ecopetrol share of production.
      Although HEC will recieve the cash for Ecopetrol share of
      the production untill HEC recovers 200% of Ecopetrol
      share of cost, I do not believe HEC gets to record it
      as revenue.

      Also even after the pipeline is
      finished, it may take sometime to finish and connect wells
      to get to 30,000 bopd. Aditional pumping stations
      and other expenditures will have to be made to
      increase the pipeline over 30,000 bopd. But I agree that
      the revenue and cashflow should be very good and many
      times our current level once the pipeline is in place.

    • Realtime quotes shows $2 ask solid but my guy was able to pick up a quick look at 1 15/16s. Some idiot sold 5k at 1 7/8s. Must be someone trading with him/herself trying to play a game.

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