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

To: Ed Ajootian who wrote (3201)	7/12/1998 3:53:00 PM
From: SDR-SI	Respond to of 5504

To all: Apologies for my continual referral to the "$35MM" financing as the "$37MM" financing. It IS the $35MM to which I have been referring. Sorry for the unnecessary confusion. Steve

To: Ed Ajootian who wrote (3201)	7/12/1998 5:14:00 PM
From: Zeev Hed	Read Replies (2) \| Respond to of 5504

Ed, re:" The development finance agreements give the holders a 7% interest in the Cambulos Association prospects. Believe me, if they find oil there (which we could find out in a couple months since they are about to spud the first well there) a 7% interest in that prospect will be worth far more than $35 mm with 25% compounded interest!" That is one of the things that puzzled me reading these documents, 7% of just three wells (it did not seem that it was interest in three "fields" but I may be wrong) vs 6.6% of the whole company (about $50 MM at let say $5 share, meaning after three years of monthly compounding at 15%, or 10 MM shares). I am not even assuming a decline in the price due to the floorless feature, mind you. What kind of a deal is that? Zeev