Harken Energy Corporation (HEC) Message Board

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

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To: drjoedoom who wrote (3384)	8/13/1998 2:09:00 PM
From: Zeev Hed	Read Replies (1) of 5504

Joe, careful, you are "in love" with this stock. You provide the answer yourself: "Anyway, I guess this pokes holes in the argument that HEC could never exercise its option to redeem the floorless for cash.", what is a better way to use "excess" cash, to buy back the floorless or to buy back the stock itself? Try and answer this rationally. If they said we are going to spend $20 MM (5 MM shares at around $4/share) to buy back some of the floorless, I would be lauding management's action, the fact that they have decided to use their scarce resource to create a rally in the stock, implies to me a more sinister agenda. As a matter of fact, the agenda is so transparent I am surprised you are not on the phone asking management why they are buying stock and not the overhanging floorless. Zeev (PS, the $.5 was supposed to be $4.5, sorry, but the check speller missed this one <G>)

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