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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: marc chatman who wrote (35609)1/21/1999 9:46:00 PM
From: Gary Burton  Read Replies (1) of 95453
 
re FGI--book is below 4. Many small cap osv's now trade near or even below book (eg VTS), so I suppose the sellers worry about declining backlog risk going forward and risk of cancellations/deferrals in the current environment. Oil companies for eg are busy cancelling drilling contracts on the slighest pretext. For my 2c, I'd rather own VTS here than FGI mainly because VTS is now below book and it too has a low pe going forward. I may jump in however if FGI dips a bit more.
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