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

To: Big Dog who wrote (51263)	9/16/1999 11:15:00 AM
From: Jon Cave	Respond to of 95453

CNBC to interview Analyst about NG stocks. I have no idea what time. They just mentioned it. Good luck. My little NG portfolio has gotten beaten up the last few days. UPR down about 20% the last few weeks. BR trading in the low 40's. Apparetly the market isn't too convinced about NG. However, the weather down here in West TX has gotten very cool today. Need a jacket.

To: Big Dog who wrote (51263)	9/16/1999 11:18:00 AM
From: SliderOnTheBlack	Read Replies (2) \| Respond to of 95453

I yield to the dog... Big; I understand what you are saying... when I refer to the subsector as being weak; My point is that there is nothing on the horizon comparable to the huge, Offshore Boom that these Drillers & Oil companies just completed. Do you feel there is anything out there to replace the likes of the construction programs that FLC, PDE, Petrobras, MRL, NE et al just did over the last few years ? Sure, there will be a Major Project here and there - the fleet is aging; but FGI benefited by a huge, huge Industry wide Construction Program. The aspect that this was an "industry-wide" Boom and that I do not see that sentiment here presently; is my entire point. I am not saying FGI is in any danger of going under etc. But, only that FGI will be a much smaller revenue company - with a much smaller base of work - for a couple of years potentially... unless; and this is the one caveat; they are a very aggressive and savy acquirer. HLX is a good move for both integration and diversification. If they merged, or do a JV later with say someone like BWG - and diversified into FPSO's and more International work - yes, that would be positive; or if they diversified into the area's of GIFI, UFAB - or even bought these types of companies... I just do not see a core of Offshore Rig Construction available - that is anything near what was seen in 1997 industrywide... What Drillers, or Oil Companies have any type of Offshore Rig Construction development projects "percolating" anything like what we saw in 1997 ? I'm keeping an open mind...