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: SliderOnTheBlack who wrote (42275)	4/15/1999 2:40:00 PM
From: Stephen L. Smith	Read Replies (1) of 95453

Slider -- RE PGO. This was posted on Yahoo today by "siescotic". Do you have information to respond to any of the allegations here? Some friends in the business just got back from a convention in San Antonio, some sort of Spec Data convention. The word on the floor there was, a lot of the American former employees are getting a class action law suit together. Based on Discrimination, because PGS laid off all the Americans and kept all the Norwegians-since the Norwegians belong to some sort of Union and were really hard to get rid of. Any lawyers out here? Any chance of this costing PGO?? What's the potential downside here? I need to get out if it's going to go public soon! I saw what the $450K penalty did to I/O's stock! By the way, I may get out next oil spike up anyway, data sales are reportedly terrible. Mergers still going on have Oil companies too ocuppied to buy data, and the client base to sell to is shrinking with every merger. With PGO's huge unsold Spec data balance (I hear over 800 Million-can anyone confrim this?), sounds like a downer for the next 12 months or so. Any thoughts on how mergers will affect PGO's big unsold SPEC data balance?

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