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Gold/Mining/Energy : Harken Energy Corporation (HEC) -- Ignore unavailable to you. Want to Upgrade?

To: R F B, Jr. who wrote (5148)	11/16/2000 9:16:00 PM
From: Gary105	Read Replies (2) \| Respond to of 5504

I believe you are right - the old conversion price on the large european convertible was $6.50 - pre-split - it should be $65 now. the date for the conversion is not next year - it is May 2003. At Harkens discretion it can begin conversion of half of it after November 2002. On a related issue, holders of stock filed to sell about 7M (post conversion would be 700k) shares. I think this factor is overhanging stock price now -not the large European convertible - this is not a large issue imo. Re energy prices over the next year - my wag is that oil very gradually drops to upper $20s while natural gas prices remain above $4/MM BTU - a good scenario for energy producers. So I think the key to Harken will be its production and discoveries - the recent US discovery was encouraging. We should see sometime next year the results of Colombian drilling efforts that begin in December.