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: SIer formerly known as Joe B. who wrote (290)	3/12/1998 10:33:00 AM
From: Grommit	Read Replies (1) of 547

Don't hold your breath. Think we are victims of the oil glut. There is a posting or two which mentions some cutbacks in E&P in the gulf. The Ranger Oil press release below looks legit, but I could not get the press release directly from RGO in yahoo. Message 3646939 Message 3649071 My understanding is that most of HMAR's boats service gas rigs - not oil. (But I am sure if the oil rigs shut down, HMAR would be hurting.) The number of new oil rigs coming on line is not going to change. I cannot imagine them cancelling orders or idling those expensive things. Rigs may have to lower day rates to keep operating - but we are isloated from that. I think. Although we are dependent on the number of rigs operating, their day rate is one level away from ours. So we are left with the old boat supply & demand. Just as the rigs owners can gouge the oil companies when rigs are tight, boats can also when boat supply is tight. And one could be tight while the other is not. These are my opinions and I am not in the oil biz. If anyone knows how it really works -- correct me. The rig guys have been telling us to watch out in the boat biz because boats can be built faster than rigs and rigs are tight. Said we would be swamped with new boats and our rates would fall. That might happen but we have a couple of advantages over rigs. Our boats relocate easier and those rigs are too expensive to be idle. Maybe more importantly, we lost investors. We got out of favor. Just this week I saw on NBR that fidelity lightened up on oil last month and got more into technologies. We need the momentum to shift back to oil services. Soros filed a SEC report which said he bought 7.5 million shares, but this guy says that it is no change. At least he is hanging on to his shares. Message 3656517 When we get another quarter or 2 under our belts with the sky not falling and with OPEC and Venezuela cutting back...

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