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Gold/Mining/Energy : VERITAS DGC INC. (VTS)
VTS 21.59-0.1%Oct 30 3:59 PM EDT
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To: Mark Adams who wrote (43)4/7/1999 5:10:00 PM
From: S. maltophilia  Read Replies (1) of 56
 
FWIW, Veritas is playing repo man with some of their receivables:
biz.yahoo.com
On March 30, 1999, the Company entered into an agreement with Veritas DGC Land, Inc. (''Veritas'') to exchange 1,002,865
shares of newly issued Brigham common stock valued at $3.50 per share for approximately $3.5 million of payment obligations
due to Veritas in 1999 for certain seismic acquisition and processing services previously performed. In addition, this agreement
provides for the payment by Brigham of up to $1 million in future seismic processing services to be performed by Veritas in
newly issued shares of Brigham common stock valued at $3.50 per share, in the event that the Company does not elect to pay
for such services in cash. The settlement of these future seismic processing services will be determined on a quarterly basis
through December 31, 1999. Brigham considers this arrangement to be beneficial as it will enable the Company to reduce its
working capital commitments and preserve additional cash flow and capital availability to fund its 1999 drilling program. The
Company believes this equity transaction represents a significant commitment to Brigham's long-term growth strategy by one of
its most significant service providers.

BEXP closed @ 2 5/8 today.

I bought back into VTS today, a few hours early.-g- I also wrote May 12 1/2 calls--very juicy premium.
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