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Gold/Mining/Energy : Harken Energy Corporation (HEC)
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To: Rod Copeland who wrote (4651)11/1/1999 10:58:00 PM
From: Ed Ajootian  Read Replies (2) of 5504
 
Rod,

I think they did the right thing by buying back the development finance agreements. This clears up a big cloud that was hanging over the capital structure. It took a lot of guts to part with that much of the nest egg, especially with massive capital requirements in Colombia and $85 mm of debt staring them in the face, but they had to do something.

But buying the common is a mistake IMO. Fortunately they are not blowing too much $$$ in this direction though.

By any chance do you or anyone else know what size target that LA well is going after? If its a 100 BCF prospect then with a 40% W.I. we could be talking $.25 a share here.

Things are starting to get interesting again.
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