Strictly: Drilling and oil-field services Message Board

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Gold/Mining/Energy : Strictly: Drilling and oil-field services

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To: SargeK who wrote (50389)	9/4/1999 1:54:00 PM
From: SargeK	Read Replies (1) of 95453

HMAR Roulette' Spin the Wheel! Posted on YAHOO: post.messages.yahoo.com HMAR Roulette' by: SargeK 2705 of 2705 First, a quick guesstimate on BOOK. At 12/98 Stock holders equity was $248m with 15.42m shares outstanding = $16.08 per share. $16.08 minus $2.12 (combined 1Q/99 $.59 and 2Q/99 $$1.53,losses)= $13.96 minus ($.68 estimated 3Q/99 loss) = $13.28 (?current book?) Let's assume for the hell of it, that the assets can only be sold @ 50 cents on the dollar, (if liquidated) giving us a "distressed sale" value of $6.64 which is 12 times yesterdays closing price of 17/32. For extracts from recent reports goto: Message 11161557 The odds for bankruptcy are probably about that for hitting black on a roulette wheel; but, the payoff could be immeasurably higher. Good luck to all you gamblers out there. The investors have already bailed out having opted for the tax subsidy and/or to avoid further possible loss. Some will be coming back in when the Wash Sale term expires and the dust settles. For those who take the plunge remember to hold enough cash to double the bet if she hits two-bits. SargeK

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