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

To: Rod Copeland who wrote (4316)	3/19/1999 5:34:00 PM
From: NPValue	Respond to of 5504

Comments: >> I get the impression that some people chasing this stock are looking for a "bottom line" (earnings). This company isn't going to show earnings for several years. That's not what they are about. They will be plowing every nickel back into the ground to grow reserves.<< I agree entirely. My problem is, will they have enough nickels to plow back into the ground? While they supposedly have 100+ million in current assets NOW, how will they best utilize it? Their purpose is to also maximize shareholder value. If they intend to sit on their cash for the next six months (which they can't do completely - executives and employees have to be paid along with fixed expenses, etc.), then shareholders will move on to seek a better return on their capital. In the meantime, the current assets (along with the stock price) will continue to drift downward. I am opposed to their seeking numerous outside "partners" for financing who will simply continue to dilute HEC earning power and our value. So, I am very interested in seeing how they plan to best allocate the existing current assets. BTW, does anyone know when the annual shareholders meeting will take place? Somehow I recall that it was in the Spring last year. I think that these issues and others will definitely be worthwhile to bring up at the meeting.

To: Rod Copeland who wrote (4316)	3/19/1999 7:53:00 PM
From: Razorbak	Read Replies (1) \| Respond to of 5504

E&P Company <<This company isn't going to show earnings for several years. That's not what they are about. They will be plowing every nickel back into the ground to grow reserves.>> Agreed. In the short-to-medium term, any potential earnings and cash flow from operations will be chewed up by the bit turning right. Free cash flow (oper. cash flow minus capex) will probably be negative; hence the need for external cash from financing. Razor