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Harken Energy Corporation (HEC) Message Board

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  • dhrosier dhrosier Aug 27, 1999 9:32 AM Flag

    FUNNY MANS E-MAIL LINK IN HIS PROFILE

    So far every thing, even the thesis that Xplor
    was acquired for internal cash flow, is conjecture.
    Neither side, Xplor or Harken, is willing to reveal
    inside facts. I expect it has a lot to do with Xplor
    being private, but even that is conjecture. As to the
    spin-off of Xplor, for the lender to agree that the $14M
    stays with the sellers suggests there is substance
    left, that whatever the motivation for the sale to
    Harken might be, it is not desperation.

    One of
    the better conjectures, which couples nicely with the
    internal cash flow conjecture, is that Xplor has developed
    the reserves to the point of production (or whatever)
    and is swapping that asset for another asset that
    gives them participation in Harken development
    activity.