May 18, 2005

SpeculatingStocks.com Stock Pick: Harken Energy Corporation (HEC)

Stock Price: $0.39 (short-term strong buy)

Harken Energy Corporation is engaged in oil and gas exploration, development and production operations both domestically and internationally through its various subsidiaries.

HEC is now at its bottoming range, a range that it has been at three other times in the last year. Each time HEC has been down at this level it has jumped above $0.50 within just a few days.

The company plans on buying back two million of its own shares in the open market. They just announced a 14% increase in revenues for Q1, year-over-year. Cash position is strong at $19.3 million.

SpeculatingStocks.com Target Price: We expect HEC to reach $0.55 within the next 2-4 weeks.