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: SliderOnTheBlack who wrote (60709)	2/22/2000 12:53:00 PM
From: SargeK	of 95453

Slider: "DUMP ALL FGH NOW ! - DeepH20xSgtK re: FGH - well, I tried telling you guys fwiw I said charges and losses - but, no one wanted to listen." FACTS: The Company warned of losses and took an immediate 22% hit on the warning! "Friede Goldman Halter warns of loss - (Jan 12th, 1999) GULFPORT, Miss. (CBS.MW) -- Shares of Friede Goldman Halter took a 22 percent dive Wednesday after the oil services company warned it would report a loss for fourth quarter 1999 because of problems with four of its construction contracts." cbs.marketwatch.com Slider: "Someone in Tyler go check on DeepH20xSgtK - because he needs to be on suicide watch imo..." Comment: Your irrational outburst was to be expected. You say Dump Now! I say BUY and here is why: The company has finally cleared the air by providing the amount of anticipated losses. Merrill Lynch reported Book Value of $7.38 (Sep 99). By backing out (worse case scenario) FY/99 losses of $1.14, current BOOK VALUE of $6.24 (for the merged companies) can be confidently estimated. While the losses are disappointing, I don't find them alarming and certainly NOT catastrophic. I expect the Company will report positive earnings for the CURRENT quarter and with an increasingly favorable business environment coupled with tax loss carry forwards, each succeeding quarter will IMO result in significantly increased earnings - GOING FORWARD. I think the irrational (read emotional) sell off down to 5 3/16 immediately following the announcement was another buying opportunity. I picked up 1k @ 5 ¬ . Thanks Good luck SargeK Slider: "FGH see's the $3's imo before they report." I hope you are shorting (putting money where your big mouth is). If so, you WILL AGAIN lose your butt! TELL US EXACTLY what you are doing now, so we can evaluate actual results without the (hindsight) rewrite!! >VBG<

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