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: Rod Copeland who wrote (3288)	7/24/1998 12:43:00 PM
From: Don Crespino	Respond to of 5504

Rod I agreee with you on the amount of oil to be transported. I read sometime back their target was 1000 bopd. I posted on Yahoo trying to interject as you said a dose of reality. I asked the question how many loads a day and someone figured out 50 truck loads. I felt that was an impossible amount also. Regards DJC

To: Rod Copeland who wrote (3288)	7/25/1998 8:30:00 PM
From: Zeev Hed	Respond to of 5504

Rod, I am surprised no one mentioned the 5 MM shares decline in short interest in HEC during the period Jun 15 to July 15. That would generally be quite bullish (indicating that some major players think that this stock may not go much lower). However, another possible explanation would be the wind down of an arbitrage position set up by the debentures holders that was called late in June. If memory serves this debenture was a fixed conversion rate debenture and the price of HEC did go above the conversion price in the last six month, providing an incentive to the holders to short against the block (cash in some profits and all their money back) and continue getting interest, nothing nefarious about that. My worry, however, is that with the three instruments outstanding (and particularly the floorless ones), the short position may increase again in the months to come. It will interesting to follow the short position and see if it is building up at all. Zeev