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: Platter who wrote (38335)	2/25/1999 5:38:00 PM
From: Gary Burton	Read Replies (4) of 95453

S&P puts FLC debt uder review--concerned about need to raise another $400. FLC said in CC this am that they were coming with a package of debt and equity based securities soon. Possibly converts? ---FLC's cash needs actually should 'soon' start to dissapate, given the declining capex program going forward. 6 months from now, they will likely be in much better shape. Maybe a retest of the 5.25 coming as I alluded to earlier. If so, it should be the last backup to the station to take on straggling riders that were left at the platform this am. The declining forward capex forecast to me is a big Buy Signal.

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