SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Gold/Mining/Energy : Harken Energy Corporation (HEC)
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Zeev Hed who wrote (3756)12/4/1998 1:12:00 PM
From: R F B, Jr.  Read Replies (1) of 5504
 
Zeev :

I'm afraid you may be right....but for all the wrong reasons. I haven't researched the short position on HEC since it last traded in the $5 range when you made your prediction, however, I do not believe the scene you painted has come to fruition.

Hardly any of the juniors have prospered since your prediction and no other company had procured financing in like manner to HEC. This leads me to believe the drop has been caused by decline in oil prices and the poor treatment of smaller companies by the market in general.

I have heard that HEC is now on their 3rd attempt at the target depth in Cambulos. They are about 400' or so away and should be at the target in a short period of time. Don't know what they will find, (if anything), when they get there, but you may be correct in thinking that the stock price may not go over $3.50/$4.50 even if they hit big. The market just does not care about this type of activity at this time. The current drop in stock price is the market discounting a dry hole at this wildcat as opposed to any shorting by your floorless bandits, IMO.

Whether you were correct with regard to the method of recent financings or not, Faulkner has HEC in a strong financial position at this time. The company has cash and with that cash the ability to enhance shareholder value in the future with positioning in the current marketplace. Do you think that Faulkner would be able to raise the money he did then...in today's market?

RFB
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2026 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News