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: Brent Hogenson who wrote (50239)	9/1/1999 6:00:00 PM
From: BigBull	Read Replies (1) of 95453

Brent: The dilution issue is one of the reasons you can still buy KEG ---- BELOW BOOK. A real "anomaly" in the patch. My view is that book is probably understated due to the 73 land rigs they own. A true value play in todays patch. Having convertables out there didn't stop FLC from going to 8 to 13, did it? Note 13 is SUBSTANTIALY above the convertion price. Ok, the poster says: "They need improved oil patch conditions, a robust economy, to pay down their debt, etc." Um ahhhhhhhh err, Gee whiz Brent any more slow pitch softballs like that and I'll be calling myself Mr. October! A robust economy? Is he kidding? Whooaaa baby, refer to my previous 8 million editions of Banzai Bulls Asia journals for some economic FACTS. In point of fact the worlds economies are now in the full flood of one of the biggest booms of our lifetimes. Bang Zoooooom! The Sultan of Swat just put that one in orbit. Improved oil patch conditions? Did I really read that? You may want to read a few of Doug Fants posts on the cuurent State O' the Patch. Or how about Il Magnifico himself - the Grand Poooooche - "KEG is turning away business". I guess these veteran oil patch pro's are just hallucinating on the heady fumes of $22 bbl oil. Whew, what planet is this guy on? But the thing about KEG that I really like, is the chart. I'll get into the technicals in my next post.

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