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May 18, 2005 Stock Pick: Harken Energy Corporation (HEC)

Stock Price: $0.39

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.

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