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 (4006)	1/5/1999 10:53:00 PM
From: SliderOnTheBlack	Read Replies (1) of 5504

Can the ''Floorless'' holders short this stock under $5 ? Zeev & regulars; am I missing something here ? Also, as of Dec 8th Hec had only about 3% of the float ''shorted'' - 3.68 million shares; a relatively minor amount - certainly not indicative of any ''bandit raid'' I've ever seen... As an example FGI Freide Goldman, a top Oil Service Company has 2.82 million shares sold short of a 12.3 million share float = 23% ! Now that is a ''shorted'' stock imho.... and a short squeeze than I'm laying in wait for <VBG>. I am not a HEC regular; just a ''quick'' review of the fundamentals; namely $100 Million + in cash with this potential via the drill bit - is literally unparalled in today's E&P world - only BNO having the ''Russian'' play & that type of cash is close... & they have other problems etc. Comparing to SEV; - HEC is the play imho... SEV has no where near the cash positon - future dilution would be a reasonable expectation if they run into some bad luck & burn a lot of cash; with tons of insider dumping etc ?. ... Doesn't HEC's exemplary Cash position negate the floorless aspect in reality ? They are not ignorant of all of this - I ''assume''.... Given the behavior of many of the sub $5 E&P stocks like COHO RRC PGEI FEN WZR EGAS PETD etc - they all lost 30-50% from Oct thru Dec. & many have virtually bounced right back; just like HEC... EEX had a huge swing after their reverse split. Magnifyed tax loss selling imho. Not short selling pressure, but literally a total absence of buying support in November & December into the face of tax loss selling. Zeev; how can the ''floorless'' holders influence a downward pressure on a sub-$5 stock ?

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