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: Gary Burton who wrote (42928)	4/22/1999 12:17:00 AM
From: Braddock Bull	Read Replies (1) of 95453

Possible Falcon 100 Cancellation? The Peregrine VII cancellation is old news although I was hoping it would be under contract by now. I guess the official cancellation just occurred on 4/15. This is the first time I've heard anything about the Falcon 100. It's pretty telling FLC chose to include talk of a possible cancellation in an 8-K. I wonder if this development was the main reason for the filing? It seems pretty conservative I.R. which I guess is a good thing. I'm interested in hearing if anybody has any response to Gary's question regarding the current Petrobras rate on the 100 versus the market rate. Perhaps the contracted rate was much lower... although that doesn't seem to have helped Pergrine VII too much. Brad

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