Enron - Natural Gas Industry Message Board

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Gold/Mining/Energy : Enron - Natural Gas Industry

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To: SargeK who wrote (1320)	1/25/2002 11:42:56 PM
From: Doughboy	Read Replies (1) of 1433

SargeK, Interesting reading but with all due respect, a bit misguided. Please don't encourage others to get caught up in the ENE web. There is very little likelihood that ENE stock will be worth anything coming out of bankruptcy. Your posting of the Dabhol bid is a good example. Read it carefully: it does not say the bid was for $3 bb, it said that they would bid for the $3 bb operation. That's the value of the asset on Enron's books (and we know how reliable that is). And Enron only owns 65% of the very troubled business. My guess is the bids come in well below $1 bb for ENE's stake. AFter all the tsunami of information about ENE, how could you possibly believe that their reported shareholder equity of $9.5 bb is anywhere true? The trading platform that was supposedly worth at least $25 per share drew ZERO cash bids. That's astounding. The creditors are going to walk away with the whole kit and caboodle, and equity holders get squat. Doughboy.

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