It would seem to me that the deal to exchange the Series F Convertible Preferred for the new Series G could not have been made without the holders of the original issue (RGC) having been involved and having been cooperative.
Such being the case, it would also seem that the negotiation and delineation of this deal probably did not just happen this morning.
It would therefore be reasonable to suspect that RGC (referred to by some as "the Floorless Bandits", and by knowledgeable others as "legitimate investors") must have known about the proposed exchange deal for a number of days and must have been in agreement with it.
It would therefore seem that neither the downward price movement of the stock, nor the volume in the last couple of weeks, could have been the "floorless bandits" maneuvering the stock price by shorting to get the average down.
It would further seem that it is quite unlikely that these "terrible" RDC people would have conspired with the drilling operations people or the HEC management to damage the well bore in order to help them get the stock price down.
IMHO that it is therefore not terribly unreasonable that, at least in this case, the perceived detrimental effects of the "floorless issue" is an imaginary CROCK, and that the clearly known price-of-crude downward pressure effects on all the other petro stocks probably was, indeed, having the same effect on HEC, compounded by the drilling problems.
I think that those that hinted conspiracy and owe at least a mild apology to the management of the company.
I must also point out that someone on this thread who KNOWS the managment people, and is in daily contact with people who have dealt with the management people for years, and is in a position to be able to judge their reputations and integrity, has said right along that they are neither stupid nor conspirators nor dupes of crooked financiers.
Just my opinion.
Steve |
