Strictly: Drilling and oil-field services Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Strictly: Drilling and oil-field services

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: SliderOnTheBlack who wrote (63952)	4/6/2000 10:39:00 AM
From: SliderOnTheBlack	Read Replies (2) of 95453

FGH "CC" - cont - imho - SELL. Good News: ... industry upturn - blah, blah, blah... ... liquidity issue - $5.4 M net from yach division sale tomorrow and Sept tax refund... other asset sales being pursued Bad News: ... JL's refusal and bumbling imho, of the direct question of "how long can you operate at current liquidity" etc... - he in my personal opinion; handled this and responded terribly; I am glad I sold yesterday. This "CC" did NOTHING to build ANY confidence in the management team imho; nothing of substance other than the entire free world now knows about compliance issues with lenders and Merrill's comentary on quality of earnings, negative cash flow etc - were well founded. Imho; I would sell and latch onto something with some wind behind its back; This is a wait & see stock in an enviroment that is exploding.... this is NOT the time to sit in dead, or deterioating money for ANOTHER YEAR ! - FGH investors saw the fall from $20 to $5-$7 here, during the same time frame that the rest of the Oilpatch saw doubles, triples and 50% upside moves as the norm ! Bottomline: JL did not show anyone the money, did not build confidence and this remains a work in progress with much, much yet to be determined and answered. I say - Sell now; wait untill we see 2-3 qtrs of #'s - see what OTHER asset sales occur and see what kind of cash flow, earnings & bank compliance issues are answered.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next