An investigation is made into the stability of electrostatic hydrogen ion cyclotron and ion acoustic waves in a model plasma where an ion beam, population 2, and oppositely directed drifting electrons pass through a stationary ion background, population 1. The excited wave properties are then compared with the characteristics of the unstable modes observed on the S3-3 satellite. Three temperature regimes are studied: (1) Te>Ti2>>Ti1, (2) Ti2>Te ≥Ti1, and (3) Te~Ti1>Ti2. It is foud that the ion beam acts as a free energy source only in regime 1. This regime is also highly unstale to the electrons as a free energy source. Unstable modes in regimes 2 and 3 seem to best satisfy the electrostatic hydrogen cyclotron wave (EHC) properties at 1 RE. For these cases the electrons are the free energy source, the beam supplies damping.