3SOF

I have posted this oil company before.  It's making a move today.  Has been [email protected] for a couple of weeks now.  
Volume is triple the norm today.  They own drilling properties in S.America

[email protected].  Looks to clear this today.  

hahaha
good ol bush dumped on this company
then good ol calandra
::)

Somethings happening today.  No news posted, but I have a feeling they may have signed some contracts with Peru.  AN oil leak- looks like to me :)

News Link: HARKEN ENERGY CORP Files SEC form 10-Q, Quarterly Report


http://biz.yahoo.com/e/050809/hec10-q.html

I searched and did not find a thread for this company. Check out the chart and Financials which were released August 9th. Volume has increased over the past 3 sessions.

Nice looking chart! What does everyone else think?

DALLAS, TX, Aug 09, 2005 (MARKET WIRE via COMTEX) -- Harken Energy Corporation (HEC) reports quarterly financial results and is pleased to announce Net Income of $15.7 Million for the period ended June 30, 2005. As summarized below, total revenues in the second quarter of 2005 increased to $11.6 million, an increase of 44% over the second quarter of 2004, due to increased international production and higher oil and gas prices. Non-GAAP Operating Margin increased to $5.8 million in the second quarter of 2005, representing 54% growth over the same period in the prior year, and a 135% improvement as compared to the first quarter 2005.

http://www.marketwatch.com/tools/quotes/newsarticle.asp?dist=&param=archive&siteid=mktw&guid=%7B853941E8%2D77FF%2D4882%2D84EB%2D927982D63086%7D

I have been watching this quite closely today, watching the time and sales, and all the big money has been hitting the ask, including a 100,000 block just going through. I think this is accumulation before a pop, so I'm entering 1/2 position here.

penny bob always said hec runs in aug good luck :-\

Adam,
You could have posted this to the Stock Picking Board.
It is not an OTCBB or Pink Sheet. Traded on the Amex
That chart looks like to me,IMHO, a head and shoulders bottom.
Good luck with the trade.Make some money brother! ;D


Harken Energy Reports Net Income of $15.7 Million, 44% Increase in Revenue and 54% Increase in Operating Margin for the Second Quarter of 2005
Market Wire (Tue, Aug 9) 

just caught a heads up oon this one too - has been rising on good volume (though volume starting to trail off a bit), has seen a steady low volume increase since May.  Is now at 0.63, which is very close to testing long term highs.  Not sure about the fundamentals as I have just checked this out, but if anyone else out there has any ideas, would be very interested. 

Could we see it break .68 next week?  If so, it could really rip....

HEC   Last: 0.62  Change: +0.04  +6.90%  Volume: 5,784,900   3:59pm  ;D
8/26/2005   After Hours: 0.63  +0.01  1.61%   8,200   7:08pm
   
Open: 0.57   Yield: n/a   Shares Out: 219.24M   
   
High: 0.64  P/E Ratio: n/a  Market Cap: 135.93M 
   
Low: 0.57  EPS: -0.01 
52wk High: 10/11/2004 0.68   52wk Low: 5/10/2005 0.37 

Avg Volume: 1.03M
Today's volume way over 5 Million Shares!

Here is the Chart. Looks Good. Looking Forward to Monday!

Here is monday's chart for HEC.

Great Volume up again. It may go up tomorrow but i think we may see some consolidation in the next few days.

Any one else have any thoughts?

HEC   Last: 0.81  Change: +0.07  +9.46%  Volume: 4,839,200   12:24pm
9/6/2005 

Company also bought back 2 Million Shares of Common Stock today.

DALLAS, TX, Sep 06, 2005 (MARKET WIRE via COMTEX) -- Harken Energy Corporation (HEC) announced it has completed the buyback of two million shares of its common stock. These shares were repurchased as part of the stock repurchase plan previously announced in June of 2005.

Harken Energy Corporation is engaged in oil and gas exploration, development and production operations both domestically and internationally through its various subsidiaries. Additional information may be found at the Harken Energy Web site, www.harkenenergy.com, or by calling Bevo Beaven or Bill Conboy at CTA Public Relations at (303) 665-4200.

Certain statements in this announcement including statements such as "believes," "anticipates," "expects" and all similar statements regarding future expectations, objectives, intentions and plans for oil and gas exploration, development and production may be regarded as "forward-looking statements" within the meaning of the Securities Exchange Act of 1934, as amended. Forward-looking statements are based on the opinions and estimates of management at the time the statements are made. Management's current view and plans, however, are subject to numerous known and unknown risks, uncertainties and other factors that may cause the actual results, performance, timing or achievements of Harken to be materially different from any results, performance, timing or achievements expressed or implied by such forward-looking statements. The various uncertainties, variables, and other risks include those discussed in detail in the Company's SEC filings, including the Annual Report on Form 10-K/A, as amended, for the year ended December 31, 2004 and its Quarterly Report on Form 10-Q for the period ended June 30, 2005. Harken undertakes no duty to update or revise any forward-looking statements. Actual results may vary materially.

Contact:
Bevo Beaven, Vice President
Bill Conboy, Vice President
CTA Public Relations
303-665-4200


SOURCE: Harken Energy Corp.


Copyright 2005 Market Wire, All rights reserved.

Here is the Chart from Today.

I have been watching this stock since it was at .56

Does anyone have any T/A on the short term of this stock

Can someone enlighten me on why nobody has provided any T/A. I put this on the Stock Picking Board for a reason. Is it because I am not an Honors Member? or the stock just has not great T/A for feedback.

It has gone up from .57c a share to .81c closing today since i posted August 15th. The volume has been over at least 2 million shares per day of trading since i started this thread.

I posted this based on it's Financials and volume.

Is there another thread out there?

Please let me know what i am doing wrong. I guess there is no need to be an honors member if i can not get any feedback on my picks i thought i had put it on the Stock Picking Board for a reason. I do understand that there are lots of boards and you can not read them all. But come on it has been read over 160 times?

I have lost money by just going with the flow of the members on this site.

(My own fault got in at the wrong stage and held to long- But I am learning)

It would be nice to know why you would have not picked this stock since it has went up nearly 50%? And has continual strong volume. I want to learn and not just pick what everyone is picking.  ;D

Please advise...  :)

hi ,
i watched this one today also . the company just bought back 2million shares so that's a good siign and maybe why there is so much buying pressure but if the company buys back it's shares then it looks good for the future.
nice pick!
maxi

Hi, John:

   Good work.

   I just checked your posts.

   I almost reached $1.00 yesterday. About 100% gain after it breaks out the $0.48 flat base.

   

I'm holding HEC for over 2 years now.
My average is .92 and I almost sold everything when it went to test 1.
I will still hold but I have a bitter experience waiting tooooo looong for something to happen.
Any predictions here?

Hello all,

Well looks like hardly anyone is following this one, which is strange, and I am quite disappointed with myself, as I just realised that I had thought this was good to go over a month ago (when it was!!)

But big props to jonathanchill, who brought this one up here and didn't get much in the way of response :-\

Anyway, things seem to be looking up for HEC, and last week they announced a share buyback of 10 million shares.  At the time the price was .70, and since has been consistently rallying, culminating in a BIG day today - up 7.8% on a volume of over 6 million shares  - significantly above the last couple days of trading.  I am guessing that they are buying the shares back for a reason, and that the shares at this price may soon be cheap. ;) 
This is probably creating and will continue to create some solid buying pressure.

Looking at the chart, there is an ascending trendline that we seem to be pulling away from now, but it is too soon to tell if we are going steeper...  However, it looks like we closed above a short term resistance level at .81, which if it holds tomorrow could signal some good things.

The message boards claim that we could see prices between $1 and $1.50 before too long, and I would probably take what they have to say with a pinch of salt, but the last rally was almost 40 cents, in other words over 60% of the share value.  A similar rally here woould put us happily over $1.

Not too sure about targets/higher resistance levels yet, but we could call the previous high of .98 a good starting point.  If anyone else is, please chime in, but I will be watching closely for a position at the open ::)

Here's the chart:

Scotsman

hi scottishtrader,
i have been watching this one everyday since my last post here. slowly building everyday ,
i may look to get in tomorrow.
no resistance above .87
goodluck.
maxi :o

Quote from: ScottishTrader on September 28, 2005, 08:57:25 PM
Hello all,

Well looks like hardly anyone is following this one, which is strange, and I am quite disappointed with myself, as I just realised that I had thought this was good to go over a month ago (when it was!!)

But big props to jonathanchill, who brought this one up here and didn't get much in the way of response :-\

Anyway, things seem to be looking up for HEC, and last week they announced a share buyback of 10 million shares. At the time the price was .70, and since has been consistently rallying, culminating in a BIG day today - up 7.8% on a volume of over 6 million shares - significantly above the last couple days of trading. I am guessing that they are buying the shares back for a reason, and that the shares at this price may soon be cheap. ;)
This is probably creating and will continue to create some solid buying pressure.

Looking at the chart, there is an ascending trendline that we seem to be pulling away from now, but it is too soon to tell if we are going steeper... However, it looks like we closed above a short term resistance level at .81, which if it holds tomorrow could signal some good things.

The message boards claim that we could see prices between $1 and $1.50 before too long, and I would probably take what they have to say with a pinch of salt, but the last rally was almost 40 cents, in other words over 60% of the share value. A similar rally here woould put us happily over $1.

Not too sure about targets/higher resistance levels yet, but we could call the previous high of .98 a good starting point. If anyone else is, please chime in, but I will be watching closely for a position at the open ::)

Here's the chart:

Scotsman

Cheers Scottish Trader...

I am glad someone has made some T/A for this Stock . I am not sure why it is still not looked at by this board. Yes this stock has not went up 50% + in 4 days but it has had great volume with the Company buying back shares. I am new to trading but if I owned this company why would I by back 10 Million Shares at .70c. if they think the stock is not undervalued. Well I will continue to watch this stock and hope it can create a new support line over the .98c Level. I think if this stock has volume over the next few sessions we may have something here.

Harken Energy Corporation, through its subsidiaries, engages in the exploration, development, production, and acquisition of oil and natural gas properties principally in the onshore and offshore Gulf Coast regions of south Texas and Louisiana. The company also engages in the coal bed methane exploration and development activities in Indiana and Ohio. Further, it engages in the exploration and production of crude oil in Colombia, Panama, and Peru. As of December 31, 2004, it had 22 BCFe of proved oil and gas reserves, as well as 4.2 million barrels of international proved oil reserves. Harken Energy was incorporated in 1973 and is based in Southlake, Texas.

Dallas, Texas – August 9, 2005 - Harken Energy Corporation (AMEX: HEC) reports quarterly financial results and is pleased to announce Net Income of $15.7 Million for the period ended June 30, 2005. As summarized below, total revenues in the second quarter of 2005 increased to $11.6 million, an increase of 44% over the second quarter of 2004, due to increased international production and higher oil and gas prices. Non-GAAP Operating Margin increased to $5.8 million in the second quarter of 2005, representing 54% growth over the same period in the prior year, and a 135% improvement as compared to the first quarter 2005.


I was listening today to CNBC and they say Natural Gases are going to double in price in the near future. I think also with this company having many onshore and offshore properties in the Lousiana and texas area depending on the damage with this volume it may indicate they did not have as much damage as first thought?

Who knows I need to dig deeper into this company but the way Natural Gases and Oil Prices in the near future we may have a nice stock to ride over the next year or so?

oh my god :o didn't George W Bush used to run Harken, back in the day?

If he did, I dunno if I can go in on this one, my concience might not allow it!

But then again, as Pfsr Hal said, "It's only money" if it's not mine, it'll be someone elses ;)

Let's hope tomorrow is a beauty

Nice work scottish trader check these links out...

http://www.thetruthaboutgeorge.com/special/harken.html

http://www.guardian.co.uk/bush/story/0,7369,752706,00.html

http://www.buzzflash.com/perspectives/bush_harken.html

http://www.almartinraw.com/harken.html

Donated by GOOGLE.COM

But hey Dick Cheney was on the Board of Directors for Haliburton and you see how many contracts they have received... Also there stock is going UP AND UP AND UP....

Maybe this board will start taking a better look...

MAYBE...

GWBUSH is paying back a company that once helped his pockets...

MAYBE I will share with the US PRESIDENT!

;D

I like it it ...Nice looking chart.
I checked it out so much that I am going to buy this morning.
Support @ 0.74...0.72...0.68
Resistance @ 0.87
Recent CandleStick Analysis
Very Bullish
Sept-27-2005 Bullish Engulfing 


Technicals
Most Actives
MACD - Bullish
Percentage Gainer

Last Price Quote is:
12.07%above 13-day EMA
29.52%above 50-day EMA
RS Rating: 98 

Fundamentals
Key Data:
Market Cap (M): $98.79 
P/E Ratio: NA 
PEG Ratio: N/A 
Next Earnings: N/A
Last Analyst Rating: Neutral
More...


Nice work johnathanchill....Applaud...

Quote from: johnathanchill on September 06, 2005, 09:57:01 PM
Can someone enlighten me on why nobody has provided any T/A. I put this on the Stock Picking Board for a reason. Is it because I am not an Honors Member? or the stock just has not great T/A for feedback.

Johnathan,

Applause for your work on HEC. 

Please don't be discouraged by the lack of response.  It doesn't mean that people aren't interested, it's more a case of the number of posts to read, as you mentioned elsewhere, and the time that it takes to do due diligence on each stock before making a comment, post a chart, etc.

Also, HEC should have been posted on the Penny Stock Board since it's under $1.00.  Next time you have one under a buck, you might post it there, and get more responses.

QuoteIt would be nice to know why you would have not picked this stock since it has went up nearly 50%? And has continual strong volume. I want to learn and not just pick what everyone is picking.  ;D

Please advise...  :)

A number of us don't buy penny stocks, or rarely buy them.  We'd have to buy too many shares, which usually throws the BID...ASK out of whack if the stock is illiquid (low volume).  This one is fine now, since it's trading in the millions of shares, but if it goes back to trading 100,000 - 200,000 shares, it can be difficult to get out of it.

Chart looks good.  I like the fact that it made the "W"-bottom target, and that on a re-test, the middle of the "W" ($0.68) held on a weekly closing basis.  Looks headed toward next resistance at $1.38.

I think it is posted on the correct board.
HEC.....is listed on the AMEX...Correct.
The Penny Stock Picking Board is for stocks listed.....OTCBB  and Pink Sheets...am I correct?
But anyway nice work Johnathan....I'm picking it up!!!!

<<<<<<<<<<<<<<<<<<<<<APPLAUD AGAIN>>>>>>>>>>>>>>>>>>>>>>>>>

Quote from: setravis on September 29, 2005, 08:10:09 AM
I think it is posted on the correct board.
HEC.....is listed on the AMEX...Correct.
The Penny Stock Picking Board is for stocks listed.....OTCBB  and Pink Sheets...am I correct?
But anyway nice work Johnathan....I'm picking it up!!!!

<<<<<<<<<<<<<<<<<<<<<APPLAUD AGAIN>>>>>>>>>>>>>>>>>>>>>>>>>

You're right, Setravis.   I didn't read the fine print beyond the title: "Penny Stock Picking."

Glad I had some feedback. I appreciate everyone's help. Natural Gases are hot in the Market today and will continue. With low production and low reserves the Natural Gas price has nearly doubled this year. I can only see it getting higher.

It may not spike today or tomorrow. I think this sector, this companies ties with the Federal Goverment and the buy back of 10 million shares is just the remedy for a  short term gain.
Especially this winter!

The stock also hit a 52 week high at .98c a share this month.

:D

Oh...forgot you, Melf Elf.......
Thanks for the time and outstanding work on your charts.

Give you applaud also!!!!!!

Hmm...

Well, was a little over-eager and bought in at the open at .85, but it seems like today was not the day, barring an end of day run.

A little disappointed as I thought this one was set to go.  But the volume is still here, and I think we should see good things from this one, just gotta give it a little time.

Thanks for the comments on this one, Melf and setravis, hope your trading days are going better than mine (all I see is red  >:( )

Okay, having bought in at the upper support level of .85 on yesterdays open, which in hindsight was not a very clever move, I am in on this and so should post a trading plan.

As I see it, and from others' analysis (thanks Melf Elf and setravis) we have support lines at .75, .73 (as I read them) and then below that at .68.  I think that the ascending trendline is valid, which today stands at .73.

For me, a retrace to .68 is too much pain and breaks the ascending trendline, so I will stick with a sell level of below .73.

**Question** I know David usually goes for closes below resistance, do others think it is better to stick with closing values than monitor levels intraday ???

There is a lot of talk on the MBs about this stock being heavily manipulated, and that management are not exactly the cleanest of whistles (being Bush cronies, that wouldn't surprise me) so they and MMs could be manipulating this one to get their 10 million shares as cheap as possible.

With gas in particular gaining a lot of interest at the moment, This should pick up, and I'm sure that if Harken is instigating a share buyback, it is at least in part because the think it has reversed from a long term low.  Let's just hope so.

Will be keeping a close eye on this one  ;)

Hmm...

well, looks like this one has ppulled back a lot more than I would have liked to see, but technically is resting on support.  My previous support line was violated, and I think it was not a very good one, so I have re-drawn it and today's close just sits on it.

There has been a lot of selling pressure the last few days, and what I don't like is that it is increasing.  However, I think we have resistance at .68, as I mentioned before, and while previously I was not willing to take that kind of pain, I want to see if we get upward movement tomorrow.  Any downward movement below .68 and I will cut my (considerable) losses and move on.

All I can say is thank goodness for HYRF ;D  made my week bearable

right now I am annoyed with myself again  >:D

This morning, after sitting here seeing no movement, I decided to sell HEC to buy one that was definitely moving, HEB (funny that, eh?)  It turned out to be a good move, HEB was up nearly 30% for the day, and nearly 18% for me.  But I didn't have the patience with HEC to stick it out and sell something else (that's the problem when you're fully invested, you gotta sell something to get into something, and I never want to sell anything while it is still in play ::)  )

So I sold out of HEC at .70, and then what does it do?  After a day of big fat nothing, and slipping to a low of .69, it goes and runs to .75!!!  I don't like missing the chance to make back some of a loss on a big loser, and coulda sold DESC, which was retracing anyway, but that's what I did (coulda woulda shoulda - always easier with hindsight  ;) )

So I've been sitting here trying to figure out the chart and what was going on - my ascending trendline was broke yesterday, adn I didn't like thatt, but the problem with ascending trendlines is for the most part its just guesswork, educated guesswork, but still.  Anyway, enough of the yabbering, here's what I came up with.

It seems like HEC is being manipulated a bit, but is controlled by horizontal resistance/support levels, and likes to hang out near them. So we did have strong support from the resistance at .68, which appears to be strong resistance, and I would be happy to call the short term low for now.  Above that we have resistance at .75 (where it closed), .81, and strong resistance at .86.  Above that is the short term high of .98.

There are also a couple of ascending trendlines that appear to be in play, as one will not fit to the chart as it stands.  One of these is a bit longer term and is more shallow.  This one has dictated support since the end of august.  The sharp trendline provided support during the August breakout, but this breakout couldn't hold the sharp trendline, and so this support became resistance.  You can see that the recent trading range has been operating between these two trendlines.  One note about the shallow trendline, which the chart breaks earlier on, is that it appears that the price will bounce off it, but can slide sideways through it more easily, which can be seen in June.  I don't necessarily see that as a problem, as in these instances, there was simply no volume or momentum.

So I believe that is our retracement in, and HEC will push up from here, most likely to .86.  I wouldn't be surprised if we are in the midst of an ascending triangle consolidation, but we'll just have to see whether it finds resistance at .86.

Right, now I'm annoyed, I'm gonna have to sell something else and buy back in tomorrow, and see if I can ride it up to .86  >:(

Happy trading, 

The Scotsman

Moving in the pre-market.... booya !!! ;D
+21.21%.......Volume @.......72,600

I'll be trying to buy HEC this morning for limit price @.66
MACD shows upward bullish trend about to cross over centerline and have had very recent insider buying.
Bought @.68

Slowly moving up

Not to late to get in before runup. Ended @.73 today

Last Update: 1/10/2006 10:33:53 AM Data provided by

MIAMI, Jan 10, 2006 (M2 PRESSWIRE via COMTEX) -- We like stocks trading big dollar value volume! A very interesting indicator to look for is where the money is flowing into. We have a filter that we watch every morning that shows us "Dollar Volume". We also like stocks that are trading at bargain prices. As of 10:30AM, a couple of these stocks are: (GTE), (CNR), (IVX), (HEC)

  For the nine months ended 30 September 2005, Harken Energy Corporation's revenue increased 33% to $30.5M. Net income applic. to comm. totaled $41.7M, vs. a loss of $10.8M, Revenues reflect an increase due to the new crude oil sales contract with Petrobras Colombia Limited. Net income also reflects a decrease in accretion expense, the presence of gain on exercise of global warrant and the presence of gain on sale of subsidiary.

As a trader, a very intelligent place to put your money, is where the money is flowing into. When you get into stocks that are trading millions of dollars within the first 30-60 minutes of the market being open, chances are you will be able to get out of your position without hurting the stock. These are the kind of trades that you want to get into.

As the saying goes...follow the money!

To see the complete Movers & Shakers Blog go to: http://www.stockwire.com .

Stockwire.com is an online financial destination where investors can go to research new investment ideas. We are focused on finding emerging growth companies that do not necessarily have widespread analyst coverage on Wall Street. The site also provides investors with full coverage of quotes, charts, and news for all publicly listed stocks in the U.S.

Investors are advised that this analysis is issued solely for informational purposes and is not to be construed as an offer to sell or the solicitation of an offer to buy. This report does not have regard to the specific investment objectives, financial situation and the particular needs of any specific person who may receive this information. The information contained herein is based on sources that we believe to be reliable but is not guaranteed by us as being accurate and does not purport to be a complete statement or summary of the available data. Past performance is no guarantee of future results. Please consult a broker before purchasing or selling any securities mentioned on http://www.stockwire.com Any opinions expressed herein are statements of our judgment as of the date of publication and are subject to change without notice. Reproduction without written permission is prohibited.

CONTACT: Stockwire Research Group, Inc. Tel: +1 305 476 1947 e-mail: [email protected]

M2 Communications Ltd disclaims all liability for information provided within M2 PressWIRE. Data supplied by named party/parties. Further information on M2 PressWIRE can be obtained at http://www.presswire


   

Continues to make higher gains each day. Plan to sell when MACD begins to show sell signal

Great movement on today's news.

onestockmind
What news is out. I cann't find. Didn't realize it was moving up till I read post. Are you in. I bought mine @.68

Hi wrangler.
I'm in for the last 2 years.
Here's the news and the link:

Peru signs deal with Harken Energy for Maranon basin gas block

08-04-05 Peru signed an exploration and production contract with Harken del Peru, a unit of Houston-based oil company Harken Energy, for block 95, located in the Maranon basin in north-eastern Peru.
Under the terms of the contract, approved by the Cabinet in March, Harken is required to invest a minimum of $ 27.3 mm.

The contract, 30 years for oil and 40 years for gas, includes a seven-year exploration period, according to a statement from the Ministry of Energy and Mines.
Harken is obligated to carry out a pre-feasibility study that covers technical, economic, marketing, regulatory and environmental aspects. Harken official Guillermo Sanchez told at the signing ceremony that the company is looking at two more areas in Peru's northern jungle and hopes to sign another two contracts this year.

The contract is one of ten that Peru expects to sign this year, according to the head of state agency PeruPetro, Antonio Cueto.
Among others, Peru's Cabinet has approved a contract between PeruPetro and Burlington Resources Peru to explore in Block 104, also located in the Loreto district. Burlington Resources Peru is a unit of Burlington Resources.

Source: Dow Jones


http://www.gasandoil.com/goc/company/cnl51915.htm

Thanks onestockmind
2 years that's along time holding. What price did you get it at. Maybe you're payday will be soon or are you in for longer time. Left reply for HIV

Found this while searching differant sites. Will be interesting to see it their five day forcast works out
http://www.stock100.com/

Feb.9th is reporting date for HEC. Now would be a good time to get in before run up. Will keep this thread active till I sell. This will be an excellant play for 50% or more profit.

This mornings pre-market trading so far

HARKEN ENERGY CP (RT-ECN)   
Symbol: HEC
Last Trade: 0.80 8:01AM ET
After Hours Change: N/A
Today's Change: N/A
Bid: 0.78
Ask: 0.80

HARKEN ENERGY CP (RT-ECN)   
Symbol: HEC
Last Trade: 0.83 8:37AM ET
After Hours Change: N/A
Today's Change:  0.05 (6.41%)
Bid: 0.80
Ask: 0.82

This will be last post on pre-market trading for today. Going to watch for possible sell today
Bid Orders 
Price  Order Size 
0.80 5190
0.78 16000
0.76 1200
0.75 1000
0.74 1250
0.73 7000
0.70 4000
0.66 310
0.62 800
0.60 2030

  Ask Orders 
Price  Order Size 
0.82 24050
0.83 4200
0.84 500
0.85 13500
0.88 7500
0.89 5000
0.92 6300
0.95 500
0.97 10000
1.00 1230

resistance is about to be broken
http://quotes.barchart.com/texpert.asp?sym=hec

Sold @.76 for a small profit. Decided to sell because MACD is beginning to show a Bullish reversal heading into bearish downward trend. May be short pull back but when Black MACD line turns heading back down towards the MA blue line that is my sell signal. I will keep this stock on my watchlist. If it shows signs of a short reversal and head back up I might buy again.
Goodluck to any holding :)

I'm liking this alot... got this one from another board...
to paraphrase... when oil recovers, this will bust 0.80...
stock actually moved UP  this past week while the oil sector tanked 10%...

in for 20k at 0.80.

glta

g

Just wanted to add that this one is obviously not a short-term play... (i.e. one day moves like cesv was both times)...

probably going to hold for 1$+ and this is for a 1-3 week time frame.

FA:

Old but useful article:
http://www.csmonitor.com/2004/1015/p01s03-usec.html

iran and oil prices:
http://www.washtimes.com/op-ed/20060116-100037-5641r.htm

second iran/oil article:
http://www.cnn.com/2006/BUSINESS/02/05/oil.price.asia.reut/index.html

Essentially what I (and anyone who buys this stock) is betting, is that Iran is not going to quickly agree to US demands, and this will be a long, protracted process... There will probably be bluffing on both the US and Iranian side, and although this will probably end with the US getting its way, I believe that this uncertainty will cause oil prices to rise... and thus more people will buy hec and other related companies. Unfortunately, this puts me in the ethically uncomfortable position of sort of wishing that things escalate between Iran and the US, which bothers me.

In addition to the Iran issue, the weather in the US has been unseasonably warm, and that has hosed oil prices... a return to colder weather also would help here.

Finally, hec imho is fundamentally sound, just like egy... the trading board I belong to called egy at 5.00 when it broke out, and they called hec at 0.60-0.61  and rode it to 0.83... now they are looking at hec again. The behavior of pps imho is quite bullish, with it repeatedly bumping up against ~0.80. P/E is also around 5. Disclosure: For right now, the "lead trader" in our group only has a starter position of 20k shares, but he is adding as it goes up (he had 200k shares of hec at 0.60 last time...)

This isn't going to go to 1$ tomorrow... so if you want a quick buck then look elsewhere... However, if things continue to get worse with the Iran/nuclear situation, imho that will drive up oil prices on the fear that Iran will use oil as leverage against the US, and the oil stocks like hec, and egy will go up.

GLTA

Looking good today, imho. Seems like the floor is moving up... from 75c to 78c... there is a large amount of overhanging supply at 80, however... oil prices also stopped falling, imho. If Iran says some fightin' words soon, this will cause oil prices to spike, and hec to bust through 80.

next couple of days are key... if 80cents breaks, imho this is off to the races. if not, probably will fall back to 75.

safest play may be to add on break of 80c, imho...maybe 81-82 c...

I'm still holding here b/c I think that break is very likely.

Also wanted to add that hec is CRAZY bullish compared to the Independent Oil/Gas index...

Take a look at the past 5 days for that index:
http://finance.yahoo.com/q/bc?s=%5EYHOh705&t=5d

Take a look at Hec for the past 5 days:
http://finance.yahoo.com/q/bc?s=HEC&t=5d

imho hec is extremely strong, considering what the other stocks in its index are doing... very bullish.


glta

g

I'm wondering if HEC is in play again.  It appears to have bottomed, but obviously we need confirmation of that with some increased volume (and price).  It stopped almost perfectly at the 200 day MA though.  Does anyone have any thoughts on this chart? 

(http://img476.imageshack.us/img476/7053/sc3pc.png)

Blast from the past... long since took my advice and sold the 20k at 0.78, when the breakout failed to happen.

so far nobody on our board is buying...yet. They were right on riding hec from 0.60 to 0.83 a month or 2 ago, so I am waiting for the leader to make the call...

g

HEC is looking good Terlisa ! I think it is a Buy..... ;D
I post it here so as to give the HEC thread an update.Chart looks good
Close above the 50-dma

Volume: 4,288,800
Avg Vol (3m): 1,849,300

Technicals
Close Above the 50-day EMA
Most Actives
Percentage Gainer

Last Price Quote is:
6.29%above 13-day EMA
4.49%above 50-day EMA
RS Rating: 77 

Fundamentals
Key Data:
Market Cap (M): $98.79 
P/E Ratio: NA 
PEG Ratio: N/A 
Next Earnings: N/A
Last Analyst Rating: Neutral

Thanks for the update setravis
It looks like a good play again. I'll probably look to getting in if I sell something. Everything on chart looks bullish.
Goodluck to all holding :)

Thanks Setravis for the quick reply....

Interesting.. HEC got higher volume today... It might be preparing again for another rally... let's see what's cookin'... ;)

HEC chart created on or before 3/26/06

HEC, HEC... what the HEC? ;)

I dig another chart for HEC @ the Solid Line so i can easily spot where the resistance are & it looks good... HEC needs to stay in the Price Channel to stay bullish & it needs to break the 0.80 resistance first & if that happens this thing will go above a dollar ;)

I can't remember in what folder I posted this chart on March 5, but at that time, after making the $0.98 target exactly, the chart had 3 technical defects that I didn't like:

1. After breaking out of another "W"-bottom on January 13, 2006 HEC double topped at $0.85-$0.86, and had closed back below the middle of the second "W" bottom ($0.74).  That "should have been" support.  It wasn't.

2. The middle of the first "W"-bottom, $0.68, also "should have been" support.  It wasn't.

3. The gap fill of $0.66 on February 26 was fine.  HEC closed inside the channel (green) that day, right at $0.68 support.  Fine.

But, the next day, February 27, HEC closed below both $0.68 and channel support, and closed again below channel support on March 3, before my weekend post.  Not fine.  HEC looked headed lower.

HEC printed lows of $0.61 on March 8, 9 and 10, but closed above its 200DMA all three days, and has been acting much better since.

It looks like you guys have something here (see next chart).

Quote from: Melf Elf on April 11, 2006, 05:08:53 AM
2. The middle of the first "W"-bottom, $0.68, also "should have been" support. It wasn't.

Coming off the lows at $0.61, what "should have been" support at $0.68 became first resistance. 

$0.68 was the high on both March 16 and March 17.

HEC took that out on March 29 and got close to the top of the channel (green), then fell back to close at $0.66, which was the gap from January 6 (horizontal red line).

Yesterday, HEC closed above the top of the channel (green) by about a penny, on very good volume.  The high was $0.72; the close was $0.71.

Quote
1. After breaking out of another "W"-bottom on January 13, 2006 HEC double topped at $0.85-$0.86, and had closed back below the middle of the second "W" bottom ($0.74).  That "should have been" support.  It wasn't.

$0.74 is the next order of business.  That was the "W"-bottom pivot that got taken out on January 13, putting a target of $0.93 IN PLAY, which has been ON HOLD since HEC closed back below it.

As a result of that, $0.93 has been a "lost target," so to speak, but it will be back IN PLAY if HEC can close back above $0.74.

The $0.84-$0.85 Double Top is resistance along the way, but a rally from yesterday's close of $0.71 to, say only $0.84 still is a nice trade.  18% gain. 

I'd expect better than that, though, with yesterday's nice volume.

Good luck with this one, guys!

One last thing...the 13/21 RSIs have had a "Double Bounce" out of synchronicity (the readings were nearly identical).  The second signal came on April 6, so the "buy pivot" was $0.68, a penny above the April 5 high of $0.67.

Quote
Coming off the lows at $0.61, what "should have been" support at $0.68 became first resistance

I especially like the fact that $0.68 resistance has turned into a buy pivot.

EDIT: Okay, one last...last thing... :D

MACD crossed above its zero line yesterday:  +0.000417.  It's only by a hair, but this is looking good for you guys.  Good luck if you have it, or play it.

Quote from: Melf Elf on April 11, 2006, 05:29:14 AM
$0.74 is the next order of business.  That was the "W"-bottom pivot that got taken out on January 13, putting a target of $0.93 IN PLAY, which has been ON HOLD since HEC closed back below it.

As a result of that, $0.93 has been a "lost target," so to speak, but it will be back IN PLAY if HEC can close back above $0.74.

HEC just printed $0.75.  It's back to BID $0.73...ASK $0.74, but that's a good sign that HEC is attacking next resistance this morning. 

Quote from: Melf Elf on April 11, 2006, 10:35:43 AM
HEC just printed $0.75. 

And, now $0.76.  Can we have $0.77?  ASKING $0.77.  Anyone?

Quote from: Melf Elf on April 11, 2006, 10:53:53 AM
And, now $0.76. Can we have $0.77? ASKING $0.77. Anyone?

The man in the back row says $0.77.  Thank you...  ;D

Quote from: Melf Elf on April 11, 2006, 10:56:19 AM

The man in the back row says $0.77.  Thank you...  ;D

All done?  Going once...going  $0.78!  Thank you.  ;D  ;D

Thanks for the added analysis.. r u playing this one too Melf? ... I got in yesterday @ 0.71 just before the close.

All i want to see for this baby is to close above 0.80 ;)

Long -Term chart on candlesticks

Heavy volume again today... currently over 6 million ;)

Quote from: Terlisa on April 11, 2006, 12:54:31 PM
Thanks for the added analysis.. r u playing this one too Melf? ... I got in yesterday @ 0.71 just before the close.

All i want to see for this baby is to close above 0.80 ;)

Alister,

No, I don't play any pennies.  I did the analysis on March 5 in one of the folders on the Technical Analysis Board. When I saw that you guys had posted in this folder yesterday, I took a look at the chart, noticed that it broke out of the channel, and thought I'd add my two cents to what you guys had.

It was fun seeing it move up this morning.  Very nice volume today, as you said.  4½ times average 100 day volume, so far.

Good luck, Alister, and to all of you who are long!

Appreciate the effort & analysis (applaud) ;) ... HEC went back @ high of the day @ 0.78

Quote from: Terlisa on April 11, 2006, 03:26:14 PM
Appreciate the effort & analysis (applaud) ;) ... HEC went back @ high of the day @ 0.78

Alister,

You're welcome.  Glad if it helped.  Nice day for HEC...5 times average 100 day volume.  Hope that it continues to do well for you!

While semis & boitechs are in bearish mode ... OIL broke the resistance today @ 68.00 ... rock n' roll on oil stocks ;)... too bad for our cars :(

HEC still fighting the resistance @ 0.80 ....stop @ 0.71 (break it even)

Quote from: setravis on April 10, 2006, 06:12:45 PM
HEC is looking good Terlisa ! I think it is a Buy..... ;D
I post it here so as to give the HEC thread an update.Chart looks good
Close above the 50-dma.

Does anyone ever tune in?
In terms of the TA on HEC, there is very nice volume coming into the stock with a low MACD moving up. That's the way we like it  ;D as opposed to high distribution volume on a high MACD.
The real resistance level is 0.85
I would suggest you play off the 13-day ema .Can't argue with the upside potential

Volume: 4,518,900
Avg Vol (3m): 1,978,950

HEC closed @ 0.80 with over twice the average volume...

That's all i want to see, let's see if it HEC closes higher tomorrow ;)

goodluck fellow traders!!

Quote from: Melf Elf on April 11, 2006, 05:29:14 AM
$0.74 is the next order of business.  That was the "W"-bottom pivot that got taken out on January 13, putting a target of $0.93 IN PLAY, which has been ON HOLD since HEC closed back below it.

As a result of that, $0.93 has been a "lost target," so to speak, but it will be back IN PLAY if HEC can close back above $0.74.

The $0.84-$0.85 Double Top is resistance along the way, but a rally from yesterday's close of $0.71 to, say only $0.84 still is a nice trade.  18% gain. 

I'd expect better than that, though, with yesterday's nice volume.

There's the $0.84 - $0.85.  Nice going, guys!

Wowwww....HEC is up currently up over 12 percent on heavy volume...It's very tempting to sell if you are sitting on 26 percent profit on penny stocks  ;)

happy trading guys!! ;)

$1.00 coming......JMHO of course.... 8)
Today is actually, "dare I say it", Breaking Out.At least I don't see any resistance on the annual chart,minor crap @ 0.98
I cant get over this volume today.
Volume: 18,545,000
Avg Vol (3m): 1,975,880
Fundamentally they have improved their balance sheet a lot, 50M in cash and very little debt.

Technicals
Most Actives
Percentage Gainer

Last Price Quote is:
20.83%above 13-day EMA
25.31%above 50-day EMA
RS Rating: 85 

Fundamentals
Key Data:
Market Cap (M): $98.79 
P/E Ratio: NA 
PEG Ratio: N/A 
Next Earnings: N/A
Last Analyst Rating: Neutral

Hello Stravis,
Aren't u a little concered about the super high volume? what are the chances this  might be a climax top or something similar to that nature....
thanks
B

Quote from: beroznikmal on April 18, 2006, 05:56:44 PM
Hello Stravis,
Aren't u a little concered about the super high volume? what are the chances this  might be a climax top or something similar to that nature....
thanks
B

I am concerned about the huge volume today.
Yes, it could be a climax.
But one thing we can be sure about in the market, We can never be sure!  :D
I reviewed the all time chart on HEC last night. This company has had a stellar past.
HEC is a very old company with a decent turn around chance.

If HEC has memory  (I hope), tomorrow it'll be another day up.  Watch the behavior on december 2003

Seems to me that HEC close the gap. Todays volume is pretty low. Maybe tomorrow will bethe day all all days... I think I'm gonna buy somemore HEC what the HECK......:D

B

Nice volume, above average and a close above .88 would be the first time since April 2004.

uc.

Quote from: Terlisa on April 10, 2006, 10:21:57 PM
HEC, HEC... what the HEC? ;)

I dig another chart for HEC @ the Solid Line so i can easily spot where the resistance are & it looks good... HEC needs to stay in the Price Channel to stay bullish & it needs to break the 0.80 resistance first & if that happens this thing will go above a dollar ;)

Quote from: setravis on April 18, 2006, 08:04:45 PM

Quote from: beroznikmal on April 18, 2006, 05:56:44 PM
Hello Stravis,
Aren't u a little concered about the super high volume? what are the chances this  might be a climax top or something similar to that nature....
thanks
B

I am concerned about the huge volume today.
Yes, it could be a climax.
But one thing we can be sure about in the market, We can never be sure!  :D
I reviewed the all time chart on HEC last night. This company has had a stellar past.
HEC is a very old company with a decent turn around chance.

beroznikmal and setravis,

I'd be very surprised if this was a climax.  A blowoff top/climax on huge volume is characteristic of a stock that has had an extended move to the upside, and HEC has only begun to have pattern breakouts on both the daily and weekly charts.

HEC had a Symmetrical Triangle breakout this week crossing and closing above 0.836.  The big volume  that we saw would suggest confirmation of that breakout, rather than a climax, in my view.

Upside Targets:

#1: 0.93 is IN PLAY
#2. 0.98 is IN PLAY
#3  1.15 is IN PLAY
#4: 1.38 is IN PLAY
#5: 1.99-2.06 is IN PLAY

The targets are IN PLAY as long as HEC remains above the Symmetrical Triangle breakout.

Quote from: beroznikmal on April 19, 2006, 01:21:22 PM
I think I'm gonna buy somemore HEC what the HECK......:D

I don't play the pennies, but I might have to start with HEC what the HECK  ;D  >:D

HEC has looked very, very good since that Channel breakout at $0.71 on April 10, 2006 (see my April 11 analysis if you'd like to review that).

Good luck to those of you long this one!

bought hec at .87 on the big volume day.

been getting my ass kicked in some biotech..insm, aob, vphm. sold viropharma for a big loss to buy HEC.

im back to about  even off a 30% gain holding these dogs.  fuck this.  insm goes up the day i sell.  BUY!

I feel like AXYX looks good in the upper 1.20s, but my instinct has been distinct

HECs gonna be uber-hot.  i can feel it.  i'll sell my INSM(which will immediately rise) to buy more.

This is one of setravis's ultimate plays.  volume is here, price is ready to break out.  HEC is ready.  So may be my long lost AOB, which I continue to hold for no reason.  time to get back to action. HEC will be on fire.  kinda tired of the same bullshit everyday (consult an INSM guy,then they'd fucking tell you how it feels)

Long term investing isn't for me.  calven, setravis, and numerous others including (allister(teralisa?)) have been spot on with some excellent advice(In a wide spectrum...Melf Elf should in no way be left out.)  I look forward to contributing what I can once it's valuable to the company.

Melf elf and calven..i've learned a world of info from you, and i'm sure i'm only a step of the way, but thank you for all the help.

Quote from: Melf Elf on April 11, 2006, 05:29:14 AM
[As a result of that, $0.93 has been a "lost target," so to speak, but it will be back IN PLAY if HEC can close back above $0.74.

The "lost target" no longer is lost.  ;)

Quote from: Melf Elf on April 22, 2006, 06:34:46 AM
Upside Targets:

#1: 0.93 is IN PLAY
#2. 0.98 is IN PLAY
#3 1.15 is IN PLAY
#4: 1.38 is IN PLAY
#5: 1.99-2.06 is IN PLAY

#1: 0.93 MADE this morning.

Quote from: bjc on April 22, 2006, 09:09:25 AM
Melf elf and calven..i've learned a world of info from you, and i'm sure i'm only a step of the way, but thank you for all the help.

bjc,

You're welcome.  Now, if we just could teach you how not to cuss like a trooper.   :o  >:D

Good luck with HEC.  Hope you make some $$$ on it.  ;D

[

Quote from: Melf Elf on April 22, 2006, 06:34:46 AM
Upside Targets:

#1: 0.93 MADE 4/24/06
#2. 0.98 is IN PLAY
#3 1.15 is IN PLAY
#4: 1.38 is IN PLAY
#5: 1.99-2.06 is IN PLAY

Target #2: 0.98 also MADE this morning.  It's good to see those targets get MADE after Friday's Symmetrical Triangle breakout, basis the weekly chart.

You guys who are long are doing great!  :)

Quote from: Melf Elf on April 22, 2006, 06:34:46 AM

I don't play the pennies, but I might have to start with HEC what the HECK  ;D  >:D

Hopefully you triggered your trade ;) did you?
I'm gaining over 32% on this trade since the recent update of this thread

Quote from: Terlisa on April 24, 2006, 12:02:09 PM
Hopefully you triggered your trade ;) did you?

Alister,

No, I just was kidding.   ;D 

Quote
I'm gaining over 32% on this trade since the recent update of this thread

I figured that you were.   Nice work on your posts and the trade!  Applause.

Quote from: setravis on April 18, 2006, 05:37:48 PM
$1.00 coming......JMHO of course.... 8)
Today is actually, "dare I say it", Breaking Out.At least I don't see any resistance on the annual chart,minor crap @ 0.98
I cant get over this volume today.
Volume: 18,545,000
Avg Vol (3m): 1,975,880
Fundamentally they have improved their balance sheet a lot, 50M in cash and very little debt.

Follow the money, and the money flow is into the stock. there is stronger flow now than during the past bottoming action.
The insider ownership and recent buying by insiders it what initially attracted me to the stock and recently 11-Apr-06 Petty, J. William
Director 15,000 Direct Purchase at $0.768 per share so he has already a nice profit...LOL
30% of the float is held by insiders.
The technicals look good

Volume: 11,723,200
Avg Vol (3m): 2,481,140

Technicals
Most Actives
Percentage Gainer

Last Price Quote is:
20.31%above 13-day EMA
31.89%above 50-day EMA
RS Rating: 77 

Fundamentals
Key Data:
Market Cap (M): $98.79 
P/E Ratio: NA 
PEG Ratio: N/A 
Next Earnings: N/A
Last Analyst Rating: Neutral

5 things to watch in energy
From Iran to refineries to record earnings, here's what's moving the market over the next few weeks.


Oil profits

While high oil and gas prices aren't usually good for consumers, they are very good for oil companies and those who invest in them.

http://money.cnn.com/2006/04/24/news/economy/energy_outlook/index.htm

Oil, rising rates could spoil the party
Economists worry that crude at $70 a barrel and higher long-term interest rates could slow the economy; handicapping a recession.

http://money.cnn.com/2006/04/24/news/economy/rates_oil/index.htm

What the HECK.... :o :o

Last year Exxon Mobil (Research) recorded the fattest profits on record for an American corporation. The company said it made $10.7 billion just in the fourth quarter, while for all of 2005 it earned $36.1 billion, or about $1,146 a second.

Down 10% premarket. Is it the drop in oil, bad news or a blip. Can't find anything.

uc.

My SCUBA instructor told me on my first dive... Little buddles no troubles .....
its up 2.11% now...
::)

B

Being very busy these days I forgot to put a protective stop on HEC and repeated my old mistake for the 100th time.

My average in HEC is .92 and I should have put a stop loss there. That way I protect my initial investment and prevent a significant loss.

Now I HOPE that this will be just a healthy pullback before another push towards $1 which may or may not happen. Hope is a very bad strategy when trading.
.98 is now double top and I don't like today's selloff on a pretty big volume. Hope .85 will hold or I'll be forced to close this position with a loss after holding for over 2 1/2 years (sad)..

I took all my profit around 0.96... I don't want the profit slip away.. being here @ 0.71

HEC leaves a BIG red ugly candlestick & red spike @ Force Index Closing @ low of the day... I hope this just a normal pullback, goodluck fellow traders ;)

Hi Guys,

Does anyone have any educated insight as to where this stock is heading in the next 2 weeks ?

to me (I'm no expert), Now would be a good time to jump in.

what say you ?

thx ;)

http://stockcharts.com/h-sc/ui?s=hec

Cup and Handle is formed. What is you're opinion?

Big selloff. I'm very mad at myself for not selling when I could. I thought HEC will break $1 this time but should have reacted right away when I realized it couldn't go through $0.98..
Bad closing today which means the selloff isn't done yet. Now I have no other choice but to hold for the next round which might take quite a few weeks if no significant news.
The last time it happened was in October and you see that it took almost 3 monts to consolidate..

Hi Guys,

I don't know what you think but I'm in at $ 0.70. and yesterday's trading (Fri 2/6) confirmed the bounce back.

Let's hope it'll break 1$ this time

Quote from: masternic35 on June 03, 2006, 07:17:27 AM
Hi Guys,

I don't know what you think but I'm in at $ 0.70.

masternic,

I think you have a nice entry into the stock.  Applause.

On March 9, 2006, the ascending line of what now is a year-long Ascending Triangle was validated within a half penny.  On May 19 and 20, that ascending line was RE-VALIDATED at $0.66 exactly.  Players are keying off that trendline and clearly recognize it as important support and as a buying opportunity.

Good luck!

Changed Ticker Symbol.......

"HEC" is no longer valid. It has changed to HKN.


Today's Chart.......

"HKN" Threads have been Merged.
Please use the search before starting new threads on a Stock Pick.
Chances are a thread already exist.
So why not post whatever you have to comment about on that pick to that thread.
"Simplicity" My fellow traders.   ;D                                                 
All history on a stock pick in 1 thread is awesome.  ;)                                                     
Just trying to get threads together,so we don't have a numerous amount floating around on the same stock.    :( ::)                                             
Thank You....and good luck with all your trades....make some $$$     ;D ;)           

Name changed and 1:22.4 reverse split on June 06,2007. Opened @ $9.00....... 8)




Press Release Source: HKN, Inc.


HKN, Inc. Reports Change of Name From Harken Energy Corporation and Approval of Reverse Stock Split
Wednesday June 6, 9:30 am ET


DALLAS, TX--(MARKET WIRE)--Jun 6, 2007 -- HKN, Inc. (HKN - News) today reported that its corporate name was officially changed from Harken Energy Corporation and that a one for 22.4 reverse split of its outstanding common stock became effective as of the opening of trading on June 6, 2007. The Company's common stock symbol on the American Stock Exchange has changed from "HEC" to "HKN." The changes were approved by the Company's stockholders at their annual meeting held on June 4, 2007.


The Company effected the corporate name change to better reflect the evolution and present scope of its business, as well as to evidence the Company's efforts during the last three years to reorganize and simplify its balance sheet, streamline its financial and capital structure and to allow a revitalized approach to its operations.

The Company pursued the reverse split in order to increase the per share trading price of its common stock and to thereby appeal to a broader range of investors and potentially improve trading liquidity. The Company also believes the reverse split will enhance its compliance with stock exchange listing requirements. As a result of the reverse stock split, the Company's outstanding common stock has decreased from approximately 220.4 million to approximately 9.8 million shares. The Company did not issue any fractional shares of its common stock as a result of the reverse split. Stockholders that would otherwise have been entitled to fractional shares in connection with the reverse split will receive a cash payment equal to the same fraction of the closing price of a share of common stock on June 5, 2007.

The Company's transfer agent, American Stock Transfer and Trust Company, will send stockholders of record a Letter of Transmittal to effect the exchange of existing stock certificates for new shares representing post-reverse split adjusted shares and with the new corporate name. Stockholders are requested not to send any stock certificates prior to receiving this Letter of Transmittal.

HKN, Inc. is directly engaged in the energy industry through oil and gas exploration, exploitation, development and production activities. HKN, Inc. is engaged indirectly in the energy industry through the management of investments in energy industry securities on domestic and international security exchanges. Additional information may be found at its corporate web site, www.hkninc.com. Please e-mail all investor inquiries to [email protected].

Certain statements in this announcement and inferences derived therefrom may be regarded as "forward-looking statements" within the meaning of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on the opinions and estimates of management at the time the statements are made. Management's current view and plans, however, are subject to numerous known and unknown risks, uncertainties and other factors that may cause the actual results, performance, timing or achievements of the Company to be materially different from any results, performance, timing or achievements expressed or implied by such forward-looking statements. The various uncertainties, variables, and other risks include those discussed in detail in the Company's SEC filings, including the Annual Report on Form 10-K filed on February 28, 2007. The Company undertakes no duty to update or revise any forward-looking statements. Actual results may vary materially.

Contact:
     For Further Information Contact:
     Investor Relations
     817-424-2424
     Email Contact
     http://www.hkninc.com
     
--------------------------------------------------------------------------------
Source: HKN, Inc.