posted
What does everyone think about HEC?Seems like a solid company and oversold at this level.Bollinger bands starting to tighten and may be leveling off here at .82 Any opinions?
Posts: 89 | From: u.s.a. | Registered: Apr 2003
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posted
HEC is a good company but the stock price is really beat up. I went back thru their history and 2002 was a terrible year. They sufferred massive losses financially but in 2003 they've paid off 95% of their long term debt and they've restructured the company in that time. I think the price currently of $.81 - .82 range is as low as it's going to get. I thought I'd be able to get in a little lower and that it would pull back more than it has but it's holding steady here at it's current level. They've increased their drilling in 2004 to the sum of $18MM 50% more than 2003 and their success rate is 73% on their drilling. They do keep shareholders updated on their drilling news which is a good thing. This was a $15 stock three years ago but those bad earnings in 2002 destroyed it. With the rising oil prices and no end in sight HEC should continue to report good earnings on or about May 15th this year....I'm still watching it to see if it goes any lower. If oil stocks interest you this might be a good lil gem to buy in the short term.
G'luck
Posts: 315 | From: New York, USA | Registered: May 2003
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