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Gold/Mining/Energy : ARAKIS: HIGH RISK OIL PLAY (AKSEF) -- Ignore unavailable to you. Want to Upgrade?

To: Razorbak who wrote (7728)	2/8/1998 10:40:00 PM
From: Zeev Hed	Read Replies (2) \| Respond to of 9164

Yes, I was Pooh Poohing the these $200 MM in financing, I wrongly thought they can bring it in as straight debt, based on excellent projectable future cash flow. I was wrong, and as you know, I am wrong quite often. Yet, recognizing my error, I last sold the stock at 3.625, and suggested it will drop under 3, then under 2, and so far both of these have happened. I changed my mind because of the technical action and the fear that the financing is not as simple and straightforward as I hoped for (and this might be the fundamental reason behind the poor technical action?). In any event, until we see the color of this financing (or until we see some good technical action, meaning a close above 2.875 on good volume), or a capitulation on very good volume, I remain your Golden Hook Seeker, KOMHT and humble servitor. Zeev (the one dollar man).