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Strategies & Market Trends : Value Investing
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To: Archie Meeties who wrote (9426)12/27/1999 6:06:00 PM
From: Paul Senior  Read Replies (3) of 78531
 
Yes, Archi., I'm looking at SEI also. Difficult co. for me to scope. My limited understanding of it is that the chair. or ceo did a great job in putting together seismic drilling maps and renting them out. Somewhere along the line the company took payment in terms of options or partnerships in oil/gas deals. (I'm not sure of any of my "facts" here). In reading Yahoo thread, there seem to be several posters' concerns.

1) I thought once a parcel of land is seismically (sic) drawn, it stays that way and the maps aren't obsoleted. Some Yahoo posts give me the impression that my assumption that the maps can be sold over and over is incorrect.

2.) The oil/gas E&P business is being spun off. It may or may not fetch the price that will be attractive to SEI stock, according to some posters.

3) The people running the company are self serving. (Not unexpected if true, given the entrepreneurial nature of the guy who started it.)

4) There's insider buying all right. Just not sure that the insiders are at risk with the bank loans they are getting to finance those buys.

I suspect the company will come back from the $6 level. There does seem to be some effort to try bring out value. Company has always been too expensive for me, but now that the stock has come down to lows, I'm more interested, esp. if it breaks below $6.

Paul Senior
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