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: IndioBlues who wrote (45062)	5/19/1999 8:46:00 PM
From: Big Dog	Read Replies (3) of 95453

Diamond Falcon sounds interesting...and I am sure every investment banker from Texas to Tazmania has tried to sell that deal...it would be huge fees. However, if I am Tisch, I am worried about the considerable construction risk. We have already seen the Falcon 100 cost about twice the plan. And I think FLC has about 7-8 other projects underway, any of which could be a budget buster -- potentially. The way things have been going, I don't want that risk -- miss a delivery date and whoops! their goes a contract. Oh that rig costs a few dozen million more...ooops! Tisch smartly avoided taking DO down that path. I would think he would rather let FLC ride those risks out on their own. If they fail...THEN its time to swoop in and save the day --- on HIS terms. That's what a deep value shopper does. There ain't no value there yet. Just risk. big atoffshore.com

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