Boots and Coots International Well Control Inc. (WEL) Message Board

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Gold/Mining/Energy : Boots and Coots International Well Control Inc. (WEL)

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To: scott_jiminez who started this subject	4/1/2003 10:20:48 PM
From: CBurnett	Read Replies (2) of 214

Prudential hedging I have posted before!! And my analysis was right. Post # 227771 Check previous post on hedging A couple of days ago. I posted what Pru. was doing. Just to give you an update essentially Pru. has an option to convert 13,995,685 shares at a price of .69. So the shares go into the outstanding stock but not into the float until they are converted!!!!!. Thus the float stays relatively the same. What Pru has been doing since the stock has gone up was short the stock at the higher prices as long as was higher than .69 cents. Remember their redeemable shares are at 69 cents. So now I can say for sure it is in Pru. best interest to keep the shares above this price. downside risk about 16% at the current price. Pru will play the spreads on this stock until they have closed their short position and buy shares into the open market to push the stock price up. Once the price starts moving up they will exc. the right to convert the shares diluting the float. This may seem like a bad thing but really isnt. They are exc. because they are ready to be long on the stock. I saw this coming guys!!! SO lISTEN TO WHAT IM SAYING!! (Post # 227771) It is up Pru. to predict the stock movement. It seems they want to be long now!! It is funny the broker on record for Clay was pru. He was told by Pru what they were gonna do!!! See all of his inside sales!!! Looking at the filing their are about 28 mil shares outstanding that are neither on float or PRU having rights to. This means insiders have about 28 millions options/warrants to convert when they wish. So dont worry Clay still has access to alot more shares. That 8 million you saw as block trade today was a warrant being exc. Some one is loading but not in the open market!!! Just exc. options. Please recommend post so others understand!!!! Future prospects look good!! BT has given full disclosure before the CC. This is a good thing usually if a company has something to hide they do it during or after. That is why I added more to my position. The actions taken by BC is similar to what Corning did when it traded around 1.5. See this as positive guys.

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