Strictly: Drilling and oil-field services Message Board

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Gold/Mining/Energy : Strictly: Drilling and oil-field services

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To: Think4Yourself who wrote (48551)	7/29/1999 2:27:00 PM
From: Aggie	Read Replies (2) of 95453

Kay and Marc, hello Curious thing about FGI, languishing in the doldrums the way it is. Do you think that, once an upturn in drilling activity is sensed by the drilling contractors, that they may be anxious to ride the wave up, and therefore be more prone to put those cold stacked rigs in the shipyard for re-commission / upgrade / refitting before committing them to service - as opposed to taking them out of service later, when the market is tight? I remember the last boom - we took 3 rigs out if mothballs and re-commissioned them so that we could take them on hire. Each one required the services of a shipyard for a couple of months, minimum, to get the job done. Is FGI a buy at these prices, or have they been cooking the books as the July 7 news items suggest? Big Dog: Are you still bullish on the stock, and what about at these prices? Regards and Good Luck to All, Aggie

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