Hvide Marine HMAR - High Growth, Undervalued Message Board

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Non-Tech : Hvide Marine HMAR - High Growth, Undervalued

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To: Robert T. Quasius who wrote (93)	12/20/1997 6:13:00 PM
From: John S. Sturges	Read Replies (1) of 547

There appears to be a bit of an irrational atmosphere in the oil&gas service area. Almost all small oil&gas related company has dropped 30-35% on the expectation than the Asian melt down will cause a world wide recession and lower oil prices, commodity prices have been plunging. OPEC has also raised their quota to where they have been pumping for the past 2yrs. You may have noted that the price of oil has risen from mid-teens to low 20's at this rate. The world demand has been growing and now has pressured oil up as the ability to find has been hampered by 10yrs.+ of under investment in both rigs and supply/service vessels. You just can't build them fast enough for the demand and oil should continue to rise slowly over time, possibly as long as 5yrs. This is a terrific environment for companies in the sector because the periodic fluctuation of oil prices or the panic of some with the recent OPEC announcement, which is truely a non-event tends to hold back much needed investment an makes it that much better for HMAR. Hvide just bought an English firm to service the North Sea and North Africa. Eric Hvide, CB&CEO, has an excellent presentation on his view of these long term trends. CIBC Oppenheimer just raised the target to $38. Also the Employee Stock Purchase Plan just bought their maximum allowed ammount as the stock fell to the $27-$28shr arena. Look for some insider buying reports in the near future. Unfortunately I did not sell in the Mid-$30's but the long term looks very good fundamentally. HMAR suffers from quick to trade investors who ignore fundamentals when a decline occurs and from the fact that it is a small cap and the market has paniced in this area. This looks solid. Best regards, John

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