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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: james paterson who wrote (4179)12/2/1997 12:57:00 AM
From: Flan  Read Replies (3) of 95453
 
James - I spoke to the company last week and they are mystified by the drop in price with no corresponding change in fundamentals. Although they could not specifically state about the recent quarter the person did say that the street will be "pleasantly surprised" by the numbers on dec 12. I have watched a years worth of profits in this stock blow up in three weeks and god is it depressing but look at what insiders are stating - nothing has changed. KEG announced a 10 million dollar buyback the other day - the chairman cited the reason for the buyback was the decline in the price with no corresponding change in its businesss fundamentals. The only thing I am really worried about is the price of oil because if it continues to move down people will continue to sell even though there is no real correlation between the price of oil and spending. ) that is in a relative basis.

Had to tell my girlfriend to not expect much this christmas now that I have lost so much in the market.
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