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

To: Arktic who wrote (3767)	12/5/1998 3:47:00 PM
From: Zeev Hed	Read Replies (1) \| Respond to of 5504

Paul, from the most recent S-3: During the first nine months following the issuance of the Series F Preferred, the conversion price will be equal to 103% of the Market Price on the conversion date. On January 9, 1999, the conversion price will be fixed at 90% of the average of the closing bid prices of the Common Stock for the previous 22 trading days. On February 9, 1999, the conversion price will be fixed at 90% of the average of the closing bid prices of the Common Stock for the previous 22 trading days if it would result in a lower conversion price than that calculated on January 9, 1999. Meaning, it is in the bandits' interest to keep the price as low in the period Dec 9 to January 9 to fix a low conversion rate. These preferred holders will do what is necessary to keep the price down in that period, and then they may let it rise so they can short again in the new strength after January 9h. That is why I plan to be out one way or another in the next two weeks, earlier if possible. I may be back in during the first week in January, ready for their pump and shorting then. Just my opinion and my reading of the "turnips' leaves". Zeev

To: Arktic who wrote (3767)	12/11/1998 12:27:00 AM
From: Craig Lawler	Read Replies (1) \| Respond to of 5504

Penny Wise Dollar Stupid? If one of you oil experts can comment/speculate on what kind of real money HEC is saving by releasing the rigs and waiting to sign long term better contract rates? It seems that the loss in productivity is killing this stock and not having any additional rigs working is just another HEC delay. In the long term, are the rig cost savings that significant that they will makes this stock a better value in 12 -18 months? I would be very surprised but open to hearing the reasoning. I certainly know finding more oil will help. TIA to those of you in the know. FRUSTRATED!!