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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: SliderOnTheBlack who wrote (63525)3/31/2000 9:25:00 AM
From: SargeK  Read Replies (2) of 95453
 
Slider: "Did anyone expect the FGH 10Q yesterday (VBG) ?"

Correction! The Company has NOT released the 10Q (Quarterly). They released a consolidated 10k (annual) which is the report I have been waiting for so more reliable analysis of (the merged) companies fundamentals may be performed. I cannot access the FULL report from EDGAR because non-paying members must wait one full business day following release. I CANNOT comment on financials and other vital fundamentals UNTIL I have access and time to evaluate the COMPLETE report.

Further, I am glad the Company decided to release the 8k in time to be studied PRIOR to next week's conference call and release of the quarterly. The most significant item I found in the cursory report was settlement of the Petrodrill contract dispute, finally eliminating the Millenium S.A. contract from backlog, and the amounts of income taxes to be recovered.

Since the market DOESN'T like uncertainty, I suspect the report will be viewed generally favorable and I expect to see some short covering and some new buyers. VOLUME and VOLATILITY should rapidly increase over the foreseeable future. I see no reason to revise my forecasts of $13 in the next 3 or 4 months and a possible double from that level by year's end.

Good Luck

SargeK
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