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: SliderOnTheBlack who wrote (50670)	9/9/1999 3:05:00 AM
From: upanddown	Read Replies (1) of 95453

Does anyone else know another company with $10-11 per share in cash, selling for $20 !!! Sure do, Slider and its an teeny-weeny E&P!!!!!!!!!!!!! Take a look at CECX...This one is really strange. biz.yahoo.com Sells for $17 and change and has $17 cash. Used to be in NG marketing/distributing with lucrative fixed-price contracts. No more contracts so they sold the pipelines and going wildcatting. Already has some production and bought lots of properties. Debt..zero..nothing..nada. 30M unused credit line. Huge stock buyback in place and actually pays a 3.5% dividend. Disclaimer...no liquidity..very low volume. I still think you are under-estimating near-term prospects for FGI. Look at these sales increases for first two qtrs of 99. yahoo.marketguide.com Doesn't look to me like a company running out of work. It is very well-managed and they should find plenty of work in a world of $23 and rising oil. When the patch gets hot, everybody works.<vbg> I'am just trading it but with the merger and the roadshow and the laggard status, I think it could move this month. John

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