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

To: Razorbak who wrote (3472)	8/26/1998 7:44:00 PM
From: Arktic	Read Replies (1) \| Respond to of 5504

Razor: How'd you get so optimistic??? <ggg> It doesn't take a degree in economics to figure out that the entire E&P sector has been pummeled by the low oil prices. A company that I know and admire, Forcenergy, was trading for $40 per share not so long ago and is now at $5 and change. Ugly. This is not a HEC problem. It's a sector problem. As the current well gets drilled on the Cambulos and as the oil patch recovers (eventually it will), HEC will be one of the ships that rises swiftly. Paul L. Craig

To: Razorbak who wrote (3472)	8/26/1998 8:52:00 PM
From: Zeev Hed	Respond to of 5504

Razor, the assumption is that HEC is going to do what they said. What they said was that they will buy 5 MM shares within three months". . and since they are not allowed to buy more than 20% of the average trading volume per day, you may indeed be right. The actual language of the news release was: Harken Energy Corporation (Amex: HEC - news; ''Harken'') announced today that it plans to purchase up to 5,000,000 shares of its outstanding common stock during the next three (3) months. and thus the word "plan" does leave some "wiggling room", also the "private transactions might mean that they plan to buy directly from insitutions. Hey, maybe the language leaves room to acquiring some of the floorless as well, since these are shares "equivalent". In the latter case, I think they would have had more bang for their announcement if they were specific about that piece of possible future equity. Zeev