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: SargeK who wrote (56320)	12/7/1999 3:31:00 PM
From: SliderOnTheBlack	Read Replies (2) of 95453

SargeK et al RE: FGH I got less respect than Rodney Dangerfield on my comments on FGH earlier... Quite frankly when analyst report after analyst report addressed the glut of rigs and that the dayrates required before the economics of newbuilds in deepwater would make sense would not occur untill maybe mid - 2001; that was all I needed to hear. hell this market won't wait one more qtr on E&P's who are going to improve cash flow & earnings 50% over last year with $25 Oil - let alone wait untill mid 2001 untill the economics of deepwater rig construction make financial sense again ??? Seemed to make sense to me. - Just wish I would have taken that "rent vs. own" commentary by Dain Rauscher a little more serious. Ohhh well; if this "IS" the E&P bottom - I own it...

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