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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Gary Burton who wrote (44903)5/18/1999 10:03:00 AM
From: Linkdog  Read Replies (1) of 95453
 
Re: The Street.com article

I'm not sure this is new news to any of us. FLC is a highly levered company. A market upturn makes them look like gods - until then it looks like they have enough wherewithal to tread water. I still say this company is going to merge with a less leveraged partner which will result in the biggest (by far) driller with a manageable balance shhet. There is just too much speculation of a deal and with management publicly seeking a deal, I just have to think something will happen. Either way, alone or with a partner I think FLC will be fine in time:

From the article:
"Falcon's financial situation, coupled with its diverse, attractive drilling fleet, have added to speculation that it's a takeover target. Falcon's management indicates it's amenable to an offer -- at the right price. Shares of Falcon have doubled since
February, to 10 1/2 Monday."
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