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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: Dan Kelly who wrote (2160)3/16/1998 1:19:00 AM
From: david james  Read Replies (2) of 2841
 
Great info Dan. The only piece I can add, which I heard second hand, was that the disagreement with Coopers regarding the "percentage of completion" on certain contracts referred mostly to SRS contracts in Europe which required different rules. I assume this means that the income is delayed into 1998.

Interesting that Groome sees $1.97 next year with the DBCO acquisition. That's nicely accretive. Would love to see how they came up with those numbers.

I must admit that I am confused as to what to expect 1st quarter 98 (earnings hopefully out in April). Norris seemed to suggest that 1st quarter was typically slow. However, this quote from the Sable news suggests that at least MM Industra will be contributing significantly. Although since this was a joint contract with Brown and Root, I am not sure how much of the income goes to MM Industra.

From the Sable news:http://www.soep.com/nr/pr889478359.html

Employees have worked around-the-clock since mid-August to fabricate
the six-leg jacket for the Venture natural gas field and the four leg
unit for the Thebaud field. Jackets are the steel 'legs' which support
the drilling platform structures. The $13 million project is the first
of its kind for Nova Scotia.

I guess they have until the 23rd of March to come up with financing and announce the new management team they are putting in place over at DBCO.

David
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