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Gold/Mining/Energy : Parkcrest Explorations Ltd. (PKC) Harken (HEC) partner -- Ignore unavailable to you. Want to Upgrade?

To: SnakeInATuxedo who wrote (215)	11/23/1998 6:10:00 PM
From: KMTMAN	Respond to of 261

Under the terms of the purchase agreement entered into between Harken and Parkcrest, Harken will forgive an undisclosed amount of debt owed by Parkcrest relating to these operations and will additionally issue to Parkcrest 1,350,000 shares of Harken's $.01 par value common stock. So PKC erases its debt, gains $5,889,240.00 Canadian dollars in HEC stock, and has an upside participation in HEC. This deal isn't too bad for PKC its's shareholders, and HEC. It is high time that shareholders are givin a fair shake like PKC shareholders have here. My speculative guess is $2.00 for PKC by November 1999.

To: SnakeInATuxedo who wrote (215)	11/23/1998 6:30:00 PM
From: Ed Ajootian	Read Replies (2) \| Respond to of 261

Lawrence, As soon as we find out exactly how much of the total debt was forgiven we could then value PKC. Hopefully it was all of the debt and we will soon be the proud owners of about C$.50 a share worth of HEC stock. This is not a happy day for the "Fast Eddie" portfolio but at this point I'm just happy to get some closure. Its really a pretty ballsy move by Lipsett & Charuk. Kind of reminds me of a buddy of mine who played some blackjack with me once and had lost several $100. On the way out of the casino he stopped at the roulette table and bought chips equal to the amount he lost and put them all on "red". This gave him slightly less than a 50 -- 50 shot at either getting back even, and a slightly higher than 50 -- 50 shot at getting twice as poorly in the hole. If HEC hits on Islero, HEC stock goes to $5 and PKC stock goes to about C$1. If HEC misses on Islero, either the deal gets voted down by the PKC shareholders or PKC stock goes to about C$.15. As much of a gambler as I am, this is not what I had in mind when I bought a ton of this stock a year or so ago. I like to gamble when the cards are in my favor more. Trying to decide what to do here. P.S. My buddy won his bet!