Strictly: Drilling and oil-field services Message Board

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Gold/Mining/Energy : Strictly: Drilling and oil-field services

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To: diana g who wrote (17891)	4/3/1998 11:33:00 AM
From: Czechsinthemail	Read Replies (2) of 95453

diana, The accident is the most likely explanation for FLC weakness. I've been hoping to hear from someone how much earnings impact the accident is likely to have. The estimate on DO's earnings for a similar accident was dropped by several cents; perhaps the impact on FLC will be greater. So far I haven't seen any announcement on its impact. Long term, of course, it doesn't matter much. I'm currently holding off, mostly because I'm putting the lion's share my spare pennies into ESV. My feeling is that companies like FLC and NE are comparatively overvalued because people are overweighing their deep drilling and underweighing their shallower rigs. Eventually, I think this will get worked out by a relatively stronger performance by ESV. If FLC continues to underperform I would certainly consider buying more, since I like the company. But not yet. good luck, Baird

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