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: Snowshoe who wrote (35787)	1/25/1999 2:27:00 PM
From: SliderOnTheBlack	Read Replies (2) of 95453

I bring you all the pentultimate value play in the Oilpatch/aka the pig of the patch ! FEN biz.yahoo.com folks; '' it don't get no worse than this'' ! from $35 in 1997, high $20's this past spring and now a damn ''buck & change''... This is virtually an ''option'' play at this price; and in all seriousness - it may be the best high risk vs. high reward play in the oilpatch. They have a huge Australian exploration play, excellent GOM holdings and are in Alaska's Cook inlet. Wayyyy tooooo much debt; but I don't see them not being able to spin off interest in the GOM properties, or to be able to raise some cash and tread water untill prices rebound. This even surpasses Lukoil as a ''10 -20'' bagger play.... ''10'' bagger is not impossible in 18 months. They've had their share of mis-steps raising some capital ,but - the fat lady hasn't sung yet .... verrrry interesting, NOT for the faint at heart ! less than .22 of book value & .14 of sales ! This stock is worth more than this operating in a Bankruptcy reorg ! The blow off/dumping is because Institutions are pisssssssed at managements stubborness in how they've handled this. Worth a look for the risk oriented...

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