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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: ItsAllCyclical who wrote (51027)	9/13/1999 12:05:00 PM
From: ldo79	Respond to of 95453

HOFF news from Yahoo. Horizon Offshore, Inc. Names R. Clay Etheridge Executive Vice President and Chief Operating Officer HOUSTON, Sept. 13 /PRNewswire/ -- Horizon Offshore, Inc. (Nasdaq: HOFF - news) today announced that R. Clay Etheridge has been named Senior Vice President and Chief Operating Officer for the Houston-based marine construction company. Prior to joining Horizon, Etheridge served as Vice President of International Operations for Global Industries, Ltd. Etheridge has held executive management positions with J. Ray McDermott, S.A. in southeast Asia, and OPI International, Inc., with responsibility for Gulf of Mexico and West Africa operations, and served as project manager for Heerema Marine Contractors. He received a Bachelor of Science degree in civil engineering from the University of Mississippi. ``We are excited that Clay has joined Horizon and believe that his addition underscores our commitment to build a superior management team and grow international operations, primarily in West Africa and Latin America,' said Horizon President and Chief Executive Officer Bill Lam. ``Clay brings vast experience in domestic and international pipelay and derrick operations to the Company and is familiar with our existing operations team and construction fleet. His knowledge of our 'people and iron' will allow Clay to make an immediate contribution to operations management.' Horizon Offshore provides marine construction services to the offshore oil and gas industry, primarily in the Gulf of Mexico. The Company's fleet is used to perform a wide range of marine construction activities, including installation of marine pipelines to transport oil and gas from newly installed production platforms and other subsea production systems, and the installation and abandonment of production platforms. This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which involve known and unknown risk, uncertainties and other factors. Among the factors that could cause actual results to differ materially are: industry conditions and volatility; prices of oil and gas; the Company's ability to obtain and the timing of new projects; changes in competitive factors and other material factors that are described from time to time in the Company's filing with the Securities and Exchange Commission. Actual events, circumstances, effect and results may be materially different from the results, performance or achievements expressed or implied by the forward-looking statements. Consequently, the forward-looking statements contained herein should not be regarded as representations by Horizon or any other person that the projected outcomes can or will be achieved. SOURCE: Horizon Offshore, Inc. --------------------------------------------------------------------------------

To: ItsAllCyclical who wrote (51027)	9/13/1999 12:20:00 PM
From: ItsAllCyclical	Read Replies (1) \| Respond to of 95453

More PETD....I still need to find out their revenue mix. They get revenue from drilling, gas sales and pipeline work. Guess I got too excited. Still researching...

To: ItsAllCyclical who wrote (51027)	9/13/1999 12:41:00 PM
From: double-plus-good	Respond to of 95453

Jim, I got into PETD for two and change some time ago, knowing full well that the stock was a slow but steady mover. They have a very impressive track record which is partially dependent on their risk management practice of securing partnerships for their drilling program. This makes them a very solid and solvent player to ride out in bad times but also limits the explosive possibilities of a leveraged producer. I made a call to IR about two or three months ago at which time a very savvy folk at their gas marketing arm laid out the bare-bones of their hedging plans. At that time Appalachian gas was south of 2.50 and the folk i spoke with indicated no hedges for summer production yet, though as much as half of summer production might be hedged if 2.75 was reached. I was also led to believe that the company saw the same price spike as has been discussed here for coming months and was very reluctant to hedge south of what could be some real dramatic upside in prices. Dated information for sure, but enough for me to double down at 4 3/8 and add again on the slump after earnings. FWIW i am looking for something near 8 per share which is at the top range of their historical chart. Not a barn-burner, but their gas is to my knowledge unhedged, not at risk of interruption by hurricane, near the metropolitan and high priced markets and unencumbered by debt. All good reasons for me to find some room for PETD shares. IIR is one of my very old service stock investments. Like MIND, its got the stuff that's made for active bidding in a market that will see further consolidation. My heart goes out to the service company ceo's that were itching for the next leg down before they went on their buying binge. Hats off to WFT which did a masterful job of timing their acquisitions. One has to wonder what DO will do with all their cash horde. It appears they mussed their timing up a tad. I spent some of the weekend researching PN and an as yet unnamed enp. I think PN has the stuff that some majors would really like to dig into. Their registration filing is a good read, and while the offering will dilute and the market cap appears to exceed the proved reserves by a healthy margin, their very aggressive drilling program and perfect success ratio combined with a lot of undrilled and promising acreage suggests that this will be a pony to ride during this cycle. i'm still sussin' out the other play which is pure bottom-feeder meat more akin to my style. could be a very short-term near triple. more on that later. and oh yeah...BOOM BOOM, FALCON SPREAD THOSE WINGS ++good