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Gold/Mining/Energy : Big Dog's Boom Boom Room

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To: Libbyt who wrote (15799)	12/13/2002 12:41:49 PM
From: jim_p	Read Replies (1) of 206093

Libbt, Some of things you need to consider are: 1. recovery in seismic is more contingent on oil than NG for PGO. 2. the activity in oil service did not pick up in the 3rd or 4th Q as we expected when we bought PGO. 3. the perception in the patch is still for lower oil prices before we get higher prices 4. PeeGoo disappointed once again with the write down of $140MM on Atlantis (major disappointment) 5. PeeGoo once again disappointed with the sale of the power company for $25MM plus a contingent $15MM instead of the announced $55MM. The best thing PGO has going for it is the people. Jim

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