Word: harkens
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While some companies, like Avenue, had theirvaluations completely wiped out in the 1991markdowns, others, like Texas-based Harken EnergyCorporation, are still valued significantly byAeneas, Harken, for one, has also been linked toallegedly shady business practices...
...Wall Street Journal reported that Aeneas'nearly $52 million investment in the oil and gasexploration firm was written down to just over $28million in 1991. Eisenson said that Aeneas hassold some of its stake in Harken, adding that themarket value of Harvard's current shares exceedstheir original cost. Still he noted, if Harkenstock drops in price, Aeneas could stand to losemoney on its investment...
Today, according o Harken President and ChiefExecutive Officer Mikel D. Faulkner, Harvard ownsapproximately 22 percent of the company's commonstock. Faulkner said that, while Aeneas does notcontrol Harken, Eisenson is extremely active onthe company's board, staying in almost dailycontract with Harken officials...
Eisenson acknowledged that Harken is aninvestment with make or break prospects in thenear future. The outcome, he said, depends largelyon exploratory drilling currently underway in thePersian Gulf, off the coast of Bahrain...
Does shaky Harken Oil benefit from its Bush connection...