Global Santa Fe (GSF) (formerly Global Marine) Message Board

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Gold/Mining/Energy : Global Santa Fe (GSF) (formerly Global Marine)

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To: SeanS who wrote (996)	12/2/1998 10:32:00 PM
From: Doug Coughlan	Read Replies (1) of 2282

I remember the original company was a real high flyer in the 70's. The price of oil plunged and there was no need for a lot of the drilling rigs. They towed the rigs up the Mississippi River and where they sat and rusted. The company filed for Chapter 11 which resulted in the company you have today. Don't have a clue as to the financial condition of the company from back then versus today but don't think that given the right set of circumstances the same thing couldn't happen. Stranger things have happened. I bought GLM at 6 ¾ about three years ago but am long out of it. Good luck to all.

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