INSIDER TRADING
9-26-00 Press Release:
<<<Seitel, Inc. (NYSE: SEI), announced today that it had repurchased approximately 16,800 shares in the open market on September 25, 2000 at an average price of $13.50 per share. We are utilizing cash flow generated by record library sales in 2000 to buy company stock in the open market. Given the price of our stock, which we believe is undervalued versus that of our peer group, our strong cash flow generation, and our solid financial position, the company will continue to repurchase stock in the open market from time to time.>>>
10-17-00 Press Release:
<<<Seitel expects to exceed the consensus estimate of $0.27 per share based on higher than expected revenue and earnings from operations.>>>
10-24-00 Herb Pearlman sells 30K shares @ $16.88
11-02-00 Press Release:
<<<Seitel has purchased approximately 220,000 shares in the open market within the past five weeks......The strength that began in the second quarter continues to gain momentum as shown by third quarter results and indications for fourth quarter 2000. Seismic library sales are expected to show continued strength as the oil and gas industry is forced to rely on previously shot seismic data to explore......The strength of our third quarter results are particularly impressive given the fact that the data creation market domestically has been slow to recover. We are very excited about the near term potential for Seitel shareholders as the seismic business gains momentum, DDD Energy's new business model is implemented and Seitel Solutions, our newly created web-based global data management systems company, develops into a contributor to revenue and earnings.">>>
12-7-00 Press Release:
<<<Over 1 Million Shares Repurchased Since Inception of Buyback Plan
Seitel, Inc. (NYSE: SEI; Toronto: OSL), announced today that it had repurchased approximately 111,000 shares in the open market during the last week of November at an average price of $14.45 per share. Total stock purchases since the buyback plan inception in December 1997 has totaled 1,010,100 shares at a cost of approximately $11 million. The current stock repurchase authorization allows the company to repurchase $25 million of stock. Seitel plans to continue to buyback its own shares in the open market from time to time, based on its belief that the stock is undervalued relative to its peer group. The company is funding the current stock purchase program by utilizing free cash flow generated by record seismic data library sales.>>>
12-18-00 Marcia Kendrik sells 20K shares @ $17.38
12-19-00 Herb Pearlman sells 38K shares @ $17.50+
12-20-00 Paul Frame sells 52K shares @ $17.00+
12-22-00 Russ Hoffman sells 50K shares @ $16.75+
2-15-01 Press Release:
<<<Paul Frame, President and Chief Executive Officer, stated, "We are pleased with the fourth quarter and full-year results for the company. The resurgence of oil and gas exploration experienced in the latest three quarters has increased the demand for Seitel's seismic data library and has had a positive impact on revenue and earnings per share. Fourth quarter seismic library sales once again increased both sequentially and in year over year comparisons. Given the current levels of industry activity, we are optimistic about fiscal 2001 and comfortable with the current Wall Street earnings estimates of $1.30 per share of 2001 and $1.65 per share for 2002.">>>
2-26-01 Herb Pearlman sells 98K shares @ $18.60+
3-5-01 Press Release:
<<<Mr. Frame stated, "We are pleased with the fourth quarter and full-year results for the company. The resurgence of oil and gas exploration experienced in the latest three quarters has increased the demand for Seitel's seismic data library and has had a positive impact on revenue and earnings per share. Fourth quarter seismic library sales once again increased both sequentially and in year over year comparisons. Given the current levels of industry activity, we are optimistic about fiscal 2001 and comfortable with the current Wall Street earnings estimates of $1.30 per share of 2001 and $1.65 per share for 2002.">>>
3-13-01 Herb Pearlman sells 135K shares @ $18.88+
3-7-01 Walter Craig sells 29K shares @ $20.75+
3-13-01 Debra Valice sells 25K shares @ $23.00
5-2-01 Press Release:
<<<Paul A. Frame, President and CEO stated, "We are pleased with the first quarter results and the year over year growth experienced by the Company. The strong demand for seismic library data experienced in the latest four quarters is now expanding into the new data initiation market. Given the current levels of industry activity, we remain optimistic about fiscal 2001 earnings and are comfortable with the current Wall Street earnings estimates of $1.30 per share for 2001 and $1.65 per share for 2002 >>>
5-15-01 Herb Pearlman sells 38K shares @ $19.20+
5-21-01 Walter Craig sells 5K shares @ $19.60+
6-18-01 Paul Frame sells 55K shares @ $16.01+
11-14-01 Press Release:
<<<Mr. Frame stated, "Seitel continues to experience tremendous growth year over year as measured by revenue, EBITDA, earnings from operations, and assets.>>>
11-30-01 Paul Frame sells 16K shares @ $11.85+
12-3-01 Paul Frame sells 34K shares @ 11.92+
Wall Street Journal 2-13-02:
<<<Mr. Fiur adds that given the scrutiny accounting practices have come under in light of Enron's collapse, Seitel's board decided in December to hire accounting firm Grant Thornton LLP to review the work done by its auditing firm, Ernst & Young LLP. Mr. Fiur says Grant Thornton approved of Seitel's accounting.>>>
April Fool's Day 2002:
Investors discover the PRs and earnings for the last 2 years were a joke, while insiders laughed all the way to the bank. |
