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Gold/Mining/Energy : Harken Energy Corporation (HEC)
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To: Zeev Hed who wrote (3099)7/4/1998 2:31:00 PM
From: Arktic  Read Replies (1) of 5504
 
Zeev: That's the piece of the puzzle that still doesn't make sense to me. I realize HEC is trying to build a war chest to move from exploration to production. They have been very creative and successful in raising capital thus far. They apparently have a large sum of cash in the coffers. I know they're accounting types aren't dumb. And I know the investors buying the convertibles aren't dumb. It is my understanding that HEC could pull money out of the war chest and buy back the instruments you reference with their cash. The investors know that as well. So, if they attempted to manipulate the market to the "floorless" level through short selling, then they would get taken out and they would be out of the path of the upside potential on the Cambulos. Am I still missing something?

Paul L. Craig
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