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

To: SDR-SI who wrote (4389)	5/20/1999 9:43:00 PM
From: Ed Ajootian	Read Replies (1) \| Respond to of 5504

Steve, Its bullish for the stock since it shows that SIDRO felt that the stock had bottomed at the $1.57 mark, so they decided to convert to stock at that price (ie, $3 mm divided by 1.9 mm shs.) . Thus the downside from here at the $2 mark is limited, especially now that oil prices seem to have plateaued up here at the $17 mark. I saw in the 10Q where the other party with the Industrial Finance Agreement also decided to convert a portion of their funds into Harken stock. Now the prospect of "floorless" securities swallowing up this company is history. Where's the Z-Man when we need him??!! HEC stock has enough daily trading volume to absorb these shares coming on the market, as long as they don't try to blow them all out in a coupla days. I don't believe anyone would be stupid enough to try that. I believe it is likely that this company will get some new analyst coverage as soon as they can get that Bolivar pipeline built and maybe get another rig or two going. The wire houses are gonna be all over this company because it will likely need to raise a substantial amount of equity come fall and they'd love to get a piece of the action this time. I think the days of Mikel dealing with his European buddies for convertible bond financings are about over.