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: Razorbak who wrote (50969)	9/12/1999 9:03:00 AM
From: SargeK	Read Replies (2) of 95453

Razor, I appreciate your comments regarding the "DIP" financing. I understand the remaining priorities. The reported willingness of the Senior Debt holders to swap debt for equity is an indication of a viable business. This was announced prior to the Company opting for bankruptcy. I'm sure the banks would have preferred to avoid Chap 11. Many of the Chap 11 scenarios cited elsewhere and here relate to companies with more DEBT than ASSETS. This is not the case with HMARQ. I don't think the "Judge" will strip the stock holders from $168m equity. I may be wrong; but, that is what makes it a gamble not an investment. Again, if I win the bet I will at least double my money, if I don't, I'll end up with pennies on the dollar. I probably should not have posted this special situation on this message board. It is becoming far too cumbersome,has added to board clutter, and is an issue which apparently is not of interest to most. Sorry about that folks. I'll try not to waste any more of your time. SargeK

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