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: Sunny Jim who wrote (53540)	10/26/1999 7:30:00 AM
From: Big Dog	Read Replies (3) of 95453

Maybe I can help re FGI/Ocean Rig. If they do not settle the dispute before earnings announcment time (Nov. 15) they must take a charge against 3Q earnings. If they DO have a settlement prior to Nov. 15, they do not take the charge...depending on the amount of the settlement. Negotiations are continuing, and there is a fair chance of a settlement prior to Nov. 15. Fair chance, not good chance. If the charge is taken against 3Q, the earnings will show up again in the quarter when the settlement is resolved...4Q? And will then be a nice little earnings boost...which will be ignored since it is a "one time" extraordinary gain. I still think this is an excellent buy right here, right now...especially if there is a sell off today (which there may be on the opening but will not last long as the day progresses). IMO, of course. big atoffshore.com

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