"By the end of that year, Harken's stock had indeed tanked, selling as low as $1 a share. But in the interim, Saddam Hussein had invaded Kuwait, Bush's father was mobilizing for the Persian Gulf War, and the only ace in the hole for Harken was an exclusive contract to explore for oil off the coast of Bahrain--in the heart of the war zone."
Today, Harken is letting it all ride on one all-or-nothing bet. Two years ago, it won the rights to look for oil and gas off the coast of Bahrain, a coup that shocked the industry. The first of those wells came up dry last month, giving analysts new reason to wonder if Harken itself isn't a dry hole.
So in 1990 and 1991 investors would've had good reason to hope for a better outcome.