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Gold/Mining/Energy : Harken Energy Corporation (HEC)
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To: Rod Copeland who wrote (4166)2/11/1999 10:29:00 AM
From: mt_roman  Read Replies (2) of 5504
 
Harken will not release any stock moving news until they have accomplished the majority of their stock buy back.
Do you think Faulkner does not have a set range in which he will purchase HEC stock?
If he could hold share price down to purchase these shares cheap, and still remain within the framework of law, don't you think it would be wise to do so?
Need I explain the value of a 10,000,000 dollar by back in terms of volume of share or purchasing power?
A 10million dollar investment at these lows, or lower, can provide 4 or 5 that much leverage when alliances need to be formed and the oil industry rebounds.
If he did not "manipulate HEC" he would be doing Harken a great disservice. He has reasoned that the investor needs be sacrificed, short term, so that Harken may survive long term.
This is Faulkner's mindset they way I see it.
It seems simple that it is in Harken's best interest to keep stock price low at present.
Mt_Roman
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