Trico Marine Services (TMAR) Message Board

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

TMAR 22.48

+0.1%

Oct 31 9:46 AM EST

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To: D.J.Smyth who wrote (1066)	4/12/1999 8:11:00 PM
From: Robert T. Quasius	of 1153

Interesting story below. I wonder if HMAR and TMAR could be acquisition targets. New Orleans, April 12 (Bloomberg) -- Tidewater Inc., the largest operator of offshore oil-service vessels, plans to use the oil industry's current slump as an opportunity to make acquisitions, Chief Executive William O'Malley said. Tidewater would prefer newer assets in markets where it already has a strong presence, O'Malley said, declining to be more specific. Tidewater has a 60 percent market share in West Africa and also is strong in Latin America. Companies that provide equipment and services to the oil industry have seen profits and stock prices fall as low oil prices prompt drilling cutbacks. Though crude oil prices recently turned upward, the oil-service industry isn't expected to recover much before next year. ''This is a period of high stress, but it's also a period of opportunity, and we are going to take advantage of opportunities that are out there,'' O'Malley said in remarks at the Howard Weil energy conference. New Orleans-based Tidewater has a fleet of 675 vessels, 65 percent of them outside of the U.S. Tidewater bought Ocean Group Plc's offshore support division for $535 million in 1997. Tidewater shares fell 5/16 to 24 11/16 in early afternoon trading. Apr/12/1999 13:05

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