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

To: SargeK who wrote (54409)	11/15/1999 10:01:00 PM
From: Roebear	Read Replies (1) \| Respond to of 95453

SargeK, It appears there was no earnings report from FGH today, as per your recent IR response: ********************* 3. It is anticipated that a Form 10-Q for the period ended September 30, 1999 will be filed for Friede Goldman International on November 15, 1999. As reported on October 25, 1999, Friede Goldman International's financial results for the period will be negatively impacted by a charge related to a contract dispute with Ocean Rig ASA of Norway. Because of the sensitive nature of the ongoing negotiations to resolve the dispute, the company plans to limit its discussion of the quarterly results to the Form 10-Q. ************************* Now Sarge, in my experience, when an earnings report does not make its stated announcement date and especially when there is zero news as to why or if it will be forthcoming, this generally = BAD NEWS. With FGH, there are some other possibilities. 1 There is progress or a good possibility of an agreement with the Ocean Rig dispute beign settled on terms more favorable than the market now has discounted. 2 In relation to #1, FGH may have been playing "chicken" with Ocean Rig with the 10Q, or vice versa and will go for a two week extension. 3 #1&2 are wishful thinking on the part of long shareholders like myself and earnings will really stink. 4 None of the above, things just could not be put together in time due to the stress of the merger. Of course, this also serves as a convenient excuse for any or all of the above three. In any case, if FGH still has the touch the long term outlook is bright. If something has occurred to change that, we will be the last to know I am certain. Just trying to be realistic here. Between gold in late September and OSX stocks lately I have more than made up any FGI losses and can afford to wait. Whether I continue to wait depends on FGH, there are a lot of named targets out there and my trigger finger is twitching to touch off the dry powder I had saved for FGH on a reversal. A small amount of that already went for our old friend UFAB yesterday and SESI back a few days in the fives. Could be worse, at least FGH didn't use asbestos (er, I HOPE!, VBG) Speaking of semantics, how about that word "anticipated" as in 10Q above. Semantics, they'll get ya every time. Best of luck, Roebear