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

To: IndioBlues who wrote (52731)	10/9/1999 2:01:00 PM
From: hdrjr	Read Replies (2) \| Respond to of 95453

Indio, Interesting reading yes, however slow reading also. The brightest spot amongst the many caveats of potential downsides and risks is the supposition that FGI will prevail in recovering most of the cost overrun moneys from Ocean Rig. This seems to be the only aspect of current or future conditions that is not considerably downplayed. Ocean Rig wants $28 mil and FGI wants $75 mil. If they are able to recover $50 mil (may be wishful thinking on my part) that would not only offset the the projected 3rd quarter charge, but actually significantly add to the 3rd quarter profit based on the statement that for every $5 mil collected, 7 to 9 cents/share would be added. Assuming that I have digested this correctly. Your thoughts? hdr