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: articwarrior who wrote (50696)	9/9/1999 9:32:00 AM
From: SargeK	Read Replies (3) of 95453

HMAR BUYS TIME TO RESTRUCTURE As previously stated: “I think the best way out for the company is use the law to BUY time, which it sorely needs at this juncture.” Message 11178574 With todays filing they bought “TIME”: “To ensure liquidity throughout the period of reorganization, including payment of suppliers and trade creditors, the Company has secured a new $60 million, debtor-in possession (DIP) credit facility from its current bank syndicate, led by Citibank, N.A. and BankBoston. The Company anticipates that it will complete its restructuring and emerge from Chapter 11 in late 1999 or early 2000.” biz.yahoo.com THE WHEEL IS SPINNING!!! AND THE BAND IS PLAYING!! Happy trading!!!!! SargeK

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