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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Linkdog who wrote (43756)5/3/1999 10:15:00 AM
From: Linkdog  Read Replies (1) of 95453
 
Bigbull,

I do like this quote from FLCs chairman in trhe earnings press release.

Paul B. Loyd, Jr., the Company's Chairman, said, ''Industry
conditions, particularly in the shallow water and marine segments
remained depressed in the first quarter. We believe that increased
oil and natural gas prices should drive improvements in these
segments later in the year. With the largest jackup and inland water
fleets in the industry, the Company is well positioned to take
advantage of these expected improvements in drilling activity;
alternatively, with the dramatically improved liquidity resulting
from our recent capital transactions, we are also well prepared to
weather a more extended downturn. Either way, we believe patient
shareholders will be amply rewarded when industry conditions
normalize.''
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