Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Zeev Hed who wrote (3174)	7/9/1998 9:40:00 AM
From: Gator II	Read Replies (1) \| Respond to of 5504

Ze'ev, you wrote: >>I am making one point and only that point. HEC has "danger" written over it because of the fact that they have $50 MM in floorless. WILL THAT DANGER MATERIALIZE? [Capitalization added for emphasis] I know not. Period.<< Fair enough! But, there is a great deal more uneasiness about HEC now than there was before you posted your initial comment about "floorless." Consequently, it seems only fair that there be a full airing of positions here in the forum in which it began and that you, as initiator, stay involved, IMO. I do hope all questions will be answered and no one ducks and runs. We all know how investors react to uncertainty. You have introduced, knowingly or unwittingly, great uncertainty over and above the inherent risks of drilling for oil in a hostile environment--climatically, geographically, and politically. Regardless, thank you for responding. Gator II

To: Zeev Hed who wrote (3174)	7/9/1998 10:04:00 AM
From: Rod Copeland	Respond to of 5504

Zeev and All, We are beating this horse to death! I think we are all concerned about this "floorless" issue. I haven't the time to dig into this matter as my investments are secondary or tertiary to other matters confronting me in my own business. I am absolutely convinced that this issue has been blown so far out of proportion that many will blush that they wasted their time typing about it. However, I know also that hard number crunchers will not accept anything less than "hard numbers and facts". I would like to make a couple of points. As Zeev has inquired, if management of HEC is so astute, why did they enter into such agreements? Well... Management IS astute. My initial response is- Did they really enter into this type of agreement? Without seeing the actual agreements, perhaps we are missing something. It has been stated that these type instruments are of last resort. That doesn't fit the situation either. HEC is in the drivers seat in regard to their sourcing financing. I don't disagree with Zeev's contention that this type of financing should be a red flag. He is absolutely right about that. So we need to see if this is a true red flag, or a mole hill that has been made into a mountain. It should be noted that HEC's Board of Directors aren't exactly novices when it comes to financing. Take a look at the composition of the board and their backgrounds. These guys didn't fall off the potato wagon last week! They are not going to fall victim to this type of financing debacle. For me, there are too many discrepancies of reasoning for this to be what it appears to be by some. I guess I am fortunate in that I have so much confidence in the management. It is by far and away the biggest asset the company has at this time. Why? Because I know they are going to take care of business...and they have a great business to take care of... and that will take care of the stock price. I have a huge advantage over most stockholders that I have tried to share. Its just that most people won't accept the gift. Kinda like Christianity. You just have to have some faith. Its a lot easier when you know the one you have faith in. Keep Smilin' Rod