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Gold/Mining/Energy : Harken Energy Corporation (HEC)
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To: Robert Sanders who wrote (4184)2/11/1999 8:45:00 PM
From: Rod Copeland  Read Replies (1) of 5504
 
Bob,
You can bet the items you mentioned have made a dent in their cash position, but probably not as much as one might think. I would sure be interested to know what the Islero ended up costing.
The great State of Texas just passed some legislation for severance tax relief for stripper well producers, like myself.
A friend of mine commented, "Its like throwing a lawn chair off the sinking Titanic!"
What I like about it is the fact that historically, by the time the government starts to come to your aid, it is usually "after the fact and way too late". I take it as another indication that we have already seen the bottom of oil prices and the worst is hopefully behind us.
Ed is right about not wanting the stock price low. It just doesn't make much sense.
If I had some dry powder, I would be using it pretty quickly at less than $2/share. I don't see how you could miss at these prices.
Good Luck,
Rod
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