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Gold/Mining/Energy : Enron - Natural Gas Industry -- Ignore unavailable to you. Want to Upgrade?

To: molemania who wrote (895)	11/28/2001 10:08:12 PM
From: SecularBull	Respond to of 1433

It depends on how bad the shareholders get hosed in the reorg. I would not be in a hurry to buy this knowing what we know now. Nevertheless, someone is buying, and buying a lot. I have to think it's more than daytraders buying 300,000,000 shares sold today. ~SB~

To: molemania who wrote (895)	11/29/2001 1:24:04 AM
From: Bob Rudd	Read Replies (1) \| Respond to of 1433

<<what is the point of buying ENE here?>>if you are clever and quick enough to outguess your fellow traders, you might make a few bucks on a bounce. <<If you bought and hung on and they made it out of reorganization would you have any viable shares?>>The likely outcome is that the shareholders are completely wiped out...or they share in 2% of the reorganized entity...If there is a reorganized entity...they may just sell parts and split it among the creditors. Enron bonds are now trading at .25 on the $ and they have higher priority than the common and preferred. Meaning that barring some special negotiation, they would have to be made whole before the shareholders get anything. Does .25 on the dollar indicate they expect to be made whole?