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Gold/Mining/Energy : American Eco (ECGOF, ECX on Toronto exchange)
ECX 1.665-7.5%Dec 22 3:59 PM EST
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To: Nero who wrote (2120)3/9/1998 12:07:00 PM
From: MARK BARGER  Read Replies (1) of 2841
 
Re: Synergy

Hi Nero, I thought that Mike would wax eloquently during the conf. call about all the synergy gained when you mesh together 2 companies like ECGOF and DBCO. I think he felt so under the gun with the $1.20 miss that his focus was elsewhere. I cannot describe my disappointment not only in the large earnings miss, but the lack of optimism, energy, and professionalism in the conf. call.

As others have said, ECGOF had a great '97 and will probably have a successful '98, but the stock has a ways to go to regain favor with the institutions. The lack of warning about the miss is inexcusable.

Let us all remember that when the market pushes a stock down as earnings approach, no matter what your personal opinion, trouble is looming. I think we'll languish around 10 for the next several months, but as the DBCO deal gets closer may start to make a move. I plan on selling some covered calls in the next couple of weeks as I prepare to sell off some of my ECGOF holdings. I plan on keeping some, but I certainly will lighten up the ECGOF portion of my portfolio.

I think that the oil service sector will explode sometime this year when oil prices finally stabilize. But until then, not quite sure where I will park my money. Any ideas?

Mark
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