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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: ItsAllCyclical who wrote (57029)12/16/1999 12:32:00 PM
From: BigBull  Read Replies (1) of 95453
 
JimL re HOFF, after the earnings bad news, I thought this stock would get stomped down to 3 - 4 already. It did not, clearly indicating that most of the sellers are gone. If the shorts didn't pile on after the earnings news, when will they? BTW GLBL also has some falling knife characteristics, does it not?

Remember, most of the really big capex 2000 increases we are seeing are skewed to the GOM and Canada. HOFF is a major player in the GOM, imo second only to GLBL. In point of fact, they laid more pipe in the GOM than did GLBL.

If you believe in the NG story, then at some point HOFF has to become a must own. The bulk of their revenue comes from NG projects. I simply fail to see how NG work will not come flooding in soon. They also have deep water capacity. They do not have the international exposure that GLBL has. As the 2000 capex goes forward that may be a plus for them.

As even the mighty GLBL can attest, last season was the pits. The pent up demand to do projects in the GOM in B2K will be intense. When the contracts will come, is an open question, but I expect these guys to start nailing down some bids in the early months of the year. Then maybe they'll get some respect. If you like GLBL then you gotta love HOFF.
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