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: VLAD who wrote (27602)	8/13/1998 3:05:00 AM
From: Todd N	Read Replies (1) of 95453

Vlad, What is the time line? I can't find any announced time frame, yet. I check FLC's website...nothing mentioning dates. I checked R & B's separate website...nothing. CDG has no website that I know of. I don't think a date has been determined yet. Usually it is a few months off. Do the CDG shareholders get 1.7 shares of FLC based on an average closing price over a certain number of trading days? You will get 1700 shares of FLC in trade for the 1000 shares of CDG you hold (Are you still holding them?) on the determined exchange date. I finally sold my shares today at the end of the day. I watched the trading today, but it did not act like the ol' CDG we know and love. I don't think CDG is going anywhere up quickly. FLC is weighing it down like an albatross. Too many arbitragers shorting FLC due to the merger. I almost sold it yesterday and moved the money to MDCO. I should have. On a day when CDG would have normally run up about 7%, we went nowhere, in fact we were down about 4% at the same time MDCO and UTI were up almost 10%. I'm afraid that any downward movement in the OSX is magnified without much movement up. FLC also set a new low today. FWIW, I'm keeping my Feb 20 and 25 calls through the merger as the price fluctuation doesn't affect my margin like holding stock. I hate to let go of my shares so cheap, but I had too much exposure to this one stock anyway. I also haven't finished my DD with FLC yet. I'm looking to pick up some MDCO as a replacement, if/when it retests the lows set recently. FGII is also looking good at these levels. What is your plan? Are you going to stick with CDG/FLC long term? Todd

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