Trico Marine Services (TMAR) Message Board

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Gold/Mining/Energy : Trico Marine Services (TMAR)

TMAR 22.41

0.0%

Nov 7 9:30 AM EST

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To: JZGalt who wrote (705)	8/24/1998 3:45:00 PM
From: D.J.Smyth	Read Replies (1) of 1153

yah. russia is a key to some bears thinking the last couple of days. but the market is punishing tmar a bit much. north sea crude is used primarily to supply the needs of the u.k. and surrounding countries. so regardless of the price of oil outside the u.k. it has been less costly to consume north sea brent internally than import from the third world. besides, there's agreements that cause the brits to buy at home first before going abroad. and the gulf is mainly gas related. tmar SHOULD have some built in earnings +, but the market is treating it otherwise so you have boat price stability in the north sea at $9 plus oil (who knows below this level since this could change a few things). at $9 oil, you still have 60%+ utilization of supply boats and lower costs relative to retiring a few aging vessels petrobras in brazil pumps for their own needs. tmar's contracts in brazil are longer term as they are in the north sea (up to 2 years for some contracts)

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