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Harken Energy Corporation (HEC) Message Board

  • valcom2 valcom2 Sep 20, 1999 6:06 PM Flag

    OT--Bigstick

    mocrats. Only point
    is that there are plenty of low character hypocrites
    to go around, no party has a monopoly. My profits,
    if I see any, are in IRA and non-taxable, so not an
    issue. Neither is it for majority of those who do own
    stocks, also in IRA or 401Ks. Republicans leave that
    "facturd" out of most discussions of tax bbenfits. Only
    wealthy (> $200K) benefit, less than 5% of population.
    Their income up 400% over past 5 years, average
    (working) Joe up 26%. Still waiting for Reagans "tinkle
    down" effect. Also not interested in golden showers
    when others have golden parachutes.

    Like HEC, I
    don't see much out their to get excited about, from
    either party. Right now, I lean to Dole, but am open to
    change. Not interested in fight, just tired of one-sided
    debates and unsupportable criticisms.

    Enjoyed
    story of your name. Peace.

    Valcom2

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    • for everyones help!!

      V2

    • Gus may be able to provide you a more technical
      description, but I happened to hit the board again tonite and
      I can attempt an answer from my perspective. The
      oil rig and gusher seem to work just fine together.
      The rig and the Laurel picture appear to be pasted on
      top of the narrative, with the narrative being hidden
      by the graphics. Exception, the word links are
      directly behind the rig and some of the words are visable
      thru the rig structure. The last two word links won't
      function, the third one from top requires that you put the
      pointer to the far left, almost to the edge (where it
      would seem to outside of the outer edge of the rig)
      thus the impression of a square area behind which the
      links are not "visable" to the pointer.

      All of
      the "button" type links seem to work just fine. It
      appears to be a graphics versus words thing. Sorry for my
      laymans terminology. I wouldn't make any huge effort for
      my benefit. Unfortunately I have a great deal of
      time involved in bookmarks and structuring, as well as
      some programmed passwords in Netscape. I try to not
      assist Bill Gates get any richer, but he seems to be
      beating me. :(

      Valcom2

    • You have been very helpful in replying to Web
      site difficulties and I appreciate your
      efforts.

      I, myself, have abandoned the use of Netscape,
      although, in the past, I had preferred its quick and mean
      design. Internet Explorer is bloated by
      comparison.

      The latest versions of Netscape and I.E. both support
      STYLE SHEETS but it is possible that the Netscape
      browser is stricter in HTML interpretations. Because of
      this, it is very conceivable that my code is written
      too loosely for Netscape. Cross-browser compatibility
      is something the industry has been wrestling with in
      this rapidly changing field.

      Since you have
      seen both renditions, perhaps you can answer the
      following questions:

      The oil derrick and the gushing
      action are two separate graphics. Do they align properly
      using the Netscape browser?

      Are the menu items,
      containing the Link to the Fairways etc, the only elements
      that are skewed or is the whole page one big
      mess?

      I may be able to provide a fix depending on your
      response.

      Thanks in advance

    • Won't work - just tried it and it is as you said
      with Bolivar Fairways behind the rig. I guess if you
      want to see the site as WS intended you will have to
      try the Microsoft browser. It doesn't cost anything
      but it takes some time to download. I use both
      browsers but lean towards Microsoft.

      Gus

    • Go to
      http://home.netscape.com/download/sd_cc32e461en.html to update to 4.61. You could also download
      Microsoft Explorer by going to MSN.Com and selecting
      download - you can have and use them both.

      Gus

    • Thank you. The direct link worked great. I can
      see what you were talking about earlier. I will
      bookmark this for further reference if I can't figure out
      what is causing my link and viewing problem. I really
      appreciate the effort you have put into this site. I am just
      sorry I can't appreciate it in its full glory.

      I
      am using Netscape Explorer 4.5, as it seemed to be
      the only browser that Fidelity would accept for
      on-line account information. Is there something in the
      pull-downs I can set to correct my problem? I will also run
      this by the computer gee.. uh, GURUS, at
      work.

      Valcom2

    • I tried a couple of times since I saw the WSJ
      article but it seems to have disappeared from the Yahoo
      threads. I am sure I have looked at a COHO thread on Yahoo
      but not so specific as PKC.AL or SEV, of course. Come
      to think of it, we had a bit of activism here
      regarding PKC proxies, but I only recall posts urging
      actions to be taken. The WSJ article indicates that
      someone was using the thread to collect proxies themself
      to present.

      The COHO thing could have some
      important consequences.

    • ""Harken is borrowing money to develop a property
      we hope will generate income. As it is not from
      capital raised in the markets via the sale of securities,
      it is not our money.""

      By all sense of the
      word, a loan is a loan is a loan is a loan. You have me
      believe that a non-recourse loan has no liabilities to
      the borrower. This is a misconception. You are right
      in using the word hope, however, regarding the
      loan's ability to generate income, and the fact that it
      is not our money, meaning yours or mine. But do
      understand: it is HEC's money.

      Let�s break it
      down:

      ""whereby the limited partners finance portion of the
      participation with a loan secured by their ownership in the
      undelying venture.""

      Whereby limited partners�HEC
      not a limited partnership, they are a public
      corporation. Nevertheless this clause is merely defining the
      entity doing the borrowing, not a type of borrowing
      covenant.

      ""In case of default, the lender has no recourse to
      the assets of the partnership beyond those held by
      the limited partners who borrowed the
      money.""

      One of the benefits of incorporating lies in the
      scope of liability. In other words, you and I may own
      HEC but you and I are not held personally responsible
      for HEC�s debt. Any liabilities incurred by HEC is
      limited to the assets of the corporation and does not
      extend to the assets of the owners which in this case
      are the shareholders.

      ""Your analogy is
      flawed as the purchase of an automobile is not an
      investment. There is no way in which the car can return
      anything of value to the couple, unless they lease it
      out.""

      My analogy was not intended to convey the nature of
      the asset, but the liabilities incurred by it.
      Whether or not Olivo or Catalina produce or poop out,
      HEC, as an entity, is still responsible for repaying
      the loan. Also, no one can guarantee returns on the
      venture. If HEC defaults on the loan, the loaning entity
      can force a sell-off of assets to recover their
      money. Anyway you look at it, it is still HEC's
      nickel.

      Regards

    • If development of Bolivar is to go on schedule,
      and the infrastructure, pipeline and more development
      wells are quickly put in, and they pump oil as
      predicted, it would seem to me that this company is
      grotesquely undervalued. The delineation well failure has
      nothing to do with the commerciality of the find, only
      perhaps its ultimate size. I would like to see the
      company announce some schedules for action on Bolivar
      development.

    • If you would like to understand what is happening in the gold and stock markets, see my recent posts and especially those of last night on the SEV and TVX boards.

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