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: Challo Jeregy who wrote (25230)	7/7/1998 9:28:00 AM
From: SliderOnTheBlack	Read Replies (1) of 95453

Zapata's Glazer....? I don't remember for sure if this is the same Glazer - I think I've read somewhere it is... maybe the apple doesn't fall far from the tree ? If I recall; the Glazer family Malcolm ? and a son - ? were major stock holders of Cityscape Financial, the crash & burn subprime lender whose ''questionable'' accounting practices were an alleged prime factor in their fall from $35 to .30 cents in a year - now bankrupt ? There were also some interesting preferred stock issues, insider sales on & on... I just get a little suspicous of companies entering the ''net niche'' for obvious transparent reasons. While Yahoo, AOL & Amazon.com are legitimate technologies and companies - this mania of speculation without what I will call, ''traditional accounting earnings extrapolations''... makes me very nervous. The $ value per customer at some of these net companies is incredible. When we see a massive shakeout of a few fringe net issues - it will dramatically affect the legitimate companies like AOL, Yahoo etc. - the valuation models will change over night and perhaps we will see new accounting/earnings - valuation models forced upon this segment like was done on the subprime lending industry last fall - remember Greentree and the subprimes fall ? For nimble traders - it's like the wild-wild west out there... Some of these up 350% year to date - amazing ? Big money to be made or lost... just not my cup of tea; for speculation - I'll stick to my ''oil/shale'' projects in the Australian outback. PS; interesting press release on Seitel/ SEI a Seismic/Geophysical company that has an E&P division that retains substantial working interest in oil & natural gas fields that they do the seismic work for and do independant E&P work as well.They have announced a couple of new E&P projects that will be accretive in Q4 this year. Interesting as well, they own 17-19% of EGEO another seismic company in the news positively of late... links for some homework: biz.yahoo.com biz.yahoo.com

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