Harken Energy Corporation (HEC) Message Board

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Gold/Mining/Energy : Harken Energy Corporation (HEC)

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To: Zeev Hed who wrote (3130)	7/7/1998 2:41:00 PM
From: R F B, Jr.	Read Replies (1) of 5504

Zeev : You have tossed around the idea of there being $50mm of floorless instruments. The preferred shares were all purchased by two individuals who have had a longstanding relationship with HEC. As I understand it, they actually wanted $50 mm but HEC did not want to give that much. They settled on the $15 mm and I understand that the actual contract is much more detailed and restrictive than explained in the 10Q. There are all kinds of restrictions regarding shorting as well as sale of these shares. These preferred shares are not really floorless as they have the $4.80 option buyout for cash. Where is the other $35mm convertible which you include in your total for the floorless instruments? RFB

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