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

To: mt_roman who wrote (4174)	2/11/1999 1:58:00 PM
From: Robert Sanders	Read Replies (2) \| Respond to of 5504

I Don't Buy It I think it's convoluted thinking to assume that HEC is trying to depress their own stock to take advantage of the low prices in the stock repurchase plan. First, it's illegal. And second, we should remember that they aren't necessarily going to purchase all ten million shares, they've merely been authorized to purchase "up to" ten million by the board. If viewed in a cynical light, the stock repurchase announcement could be used as a ray of hope for shareholders to look to during this miserable time for oil, without actually obligating the company to follow through. On another matter, I really think we have a right to know the status of the pipeline. One post mentioned that they were holding on the sale of oil from Estero because of depressed prices. Do you have any info on the pipeline as well? Just seems like their whole philosophy is fund future wells with income from proven wells. They've done a decent job finding oil in Columbia, quadrupling their worldwide reserves, so why aren't they using it? Makes me think the worst and I think we're owed an explanation. Preaching to the choir . . . thanks for your indulgence. Bob