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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: ItsAllCyclical who wrote (50145)	8/31/1999 3:50:00 PM
From: Think4Yourself	Respond to of 95453

Actually, it is 30. The Sept 10 is because RRC has 10 days to pay, in cash, the difference between $365 Mill and MAX($300 mil, redetermined amount). It's a big deal because the JV deal should close by 9/31, removing $100 mil from the balance sheet. End result is that RRC should have substantial free cash for new drilling. If redetermination had occurred today RRC MIGHT have been in a serious short term cash crunch. If you want to see how significant this is, go to Yahoo. There you can see the shorts squirming as Slider gives them the shaft. It's quite amusing... post.messages.yahoo.com

To: ItsAllCyclical who wrote (50145)	8/31/1999 3:55:00 PM
From: SliderOnTheBlack	Read Replies (2) \| Respond to of 95453

RRC; 5K, 5K, 5K, 5K short covering I love the smell of short covering.... This stock had a couple of 2-5K trades early, mainly lots of 100 lots all day.... now 5K, 5K, 5K, 5K, etc...... 19 days of pure short interest to cover ! ................. I simply could NOT believe that the Street was ignoring the fundamental valuation here.... I knew that the Bank redetermination was a biggie - but, never thought short interest would get to this level - driving the stock down 40%. .... untill; someone reminded me of RRC's inside interest @ 9 million shares vs. the float of 27 million. The short interest is more than the 2.53 Million shown as of Aug 9th as well... There is some hedging of long positions in that short interest & a great deal; but the pure shorts are the ones I am soooooooo going to enjoy seeing squirm.... The race to the door begins... Of course; it will not happen all at once - can't dump 2.53 M shorts overnight when we've been trading at this level of late.... wait for the big move - upon official closing of the JV; that is when all of the ''hedged shorts'' return to pure long positions ! ... this is a 4 seam 80mph fastball, waist high down the center of the plate folks - if you can't hit this one.... you'd better be a hell of a glove man (VBG) ! YESSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSS ! $lider circling the bases....