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: Big Dog who wrote (3125)	11/18/1997 10:46:00 PM
From: Rich B.	Read Replies (1) of 95453

Mike, I have appreciated your postings over the last three weeks. Have been reading this thread, find it very informative. The company that has caught my eye has been FGII. It sure has skyrocketed since it's IPO. I know little next to nothing about this sector, but the revenue and earnings growth can't be ignored. The growth of FGII must explain the current p/e. The statement from their last release about 132 million dollar backlog stands out(102% increase from the previous quarter).Just curious as to how long this would keep FGII busy, taking into account the last 9 months revenue was 80 million. Looks as though they can't produce fast enough. What are your estimates for earnings looking forward? Zachs has current year at .74 and next year(98) at 1.04. Is this account for the Marystown Shipyard purchase? BTW I did buy a small position when price was @ 40. The very next day it shot up 3 points soon after another 2. I then decided to write nov 45 calls which reduce some of the downside risk. Would be interested in your options position now. What are your thoughts on dec expiration?

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