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: Think4Yourself who wrote (61858)	3/9/2000 11:14:00 AM
From: SliderOnTheBlack	of 95453

Nice move "Q" I sold 3/4ish of my RRC on the move - rotated and will now buy it back... Ohhh I can hear the pump & dump from the Cosmo's coming (VBG) - but, I posted my sell fwiw and this is a shakeout - RRC did what "I" wanted to see them do: 1. lock in these commodity prices - hedge high, not low ! 2. keep buying back the convertibles which are killing the common due to the hedge of long the converts & short the common 3. Keep paying down debt - they have done a super job here 4. Keep a conservative cap ex program going forward 5. Stay the course & just keep developing those long lived low risk exploitation reserves *** this hedge at $2.70+ will flow tons of cash to the bottom line RRC is NOT going bankrupt - this may retest the lows of $1 7/8 - $2 here and buy the living hell out of it if it does... Imo, this retests the bottom here and then runs again, basing around $3 - $3.3875 and moves forward with the sector and on positive drilling news & production, further debt reductions. Still excellent opportunity to be a $5 - $7 stock by year end. BSNX & FST - are gifts here for "still cheap" plays... I like "P" on any retrace into the news of them buying ARCO's Alaskan properties...

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