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: Warpfactor who wrote (58382)	1/13/2000 10:02:00 AM
From: SargeK	Read Replies (2) of 95453

Response to Yahoo Poster re: FGH I attempted to respond to a poster using alias dadsal2 on Yahoo; but, could not because of technical difficulties. I beg this message board's indulgence to POST my response to his message: messages.yahoo.com dadsal2 Spreading rumors is unlikely to get your money back. Remarks such as these may help vent your anger and frustration; but, it reflects poorly on yourself to fabricate speculations WITHOUT any basis for such assertions: "Believe JR Wants It All - It seems that JR's lack of support for the stock is because he wants to take it private and orchestrates his press releases to drive drown the stock. Since he owns 50 percent of the stock, it would be simple to buy out the other 50 percent on a vote." Comment: Mr Holloway DOES NOT OWN or control 50% of the stock. He owns or controls (via family trusts, etc.) approximately 25% of FGH. Mr. Holloway has on PAPER seen the Market Valuation of his investment in FGH decline to a fraction of what it once was. Putting management style and professionalism aside, Mr. Holloway has more at stake than any other investor in this Company. It is in his own best interest and that of other stock holders that he succeed in his long term goals to grow Friede Goldman Halter, Inc. and to continue building on his past successes of increasing stockholders equity. While there are many bumps in the road, the future of the Company rests with the DEMAND for state of the art equipment for offshore exploration and development over the next two decades. While 4Q/99 earnings are a disappointment it should not have been a BIG surprise. The costs of the merger was several million (including $3m to Jeffries for a successful merger)and the costs of closing down offices and facilities in the synergy process of achieving future efficiencies HAD to effect the bottom line. Since the process is on going, I would not be surprised to see further charges over the next couple of quarters (including the current one 1Q/00). How these charges affect Cash Flow and overall profitability during the interim are OPEN questions. Outcomes of the disputes with Ocean Rig and Petrodrill over the 4 contracts will most certainly effect both WHILE negotiations continue. During the interim, rumor mongering DOES NOTHING to advance the primary interests of Value Investors who expect long term, positive results from their investments. As previously stated, I will continue to support the Company and my own investment as long as I believe FGH has a promising future. I have seen nothing so far that would alter that view. Good luck to all, SargeK

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