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

To: SargeK who wrote (55644)	11/29/1999 10:34:00 PM
From: BigBull	Respond to of 95453

Sarge, My FGH post was largely directed at Gary. It was to publicly acknowledge his accurate call on his FGH price target being hit. Nothing more. Rarely, if ever, do I remark of the daily price swings of FGH. Like you, I believe this company to be incredibly under valued. Does this change for one second that this stock is in a down trend? Nope. Is this THE bottom? You got me! Thought folks might be interested that Gary also stated that 8.5 would complete the down wave sequence. It seems to me that TX and XON/MOB(Standard Oil?) are now truly gearing up for Boom 2000 by going pedal to the medal E&P in da "Big Fields". You know where they are right? Deeep. I am going to raise all the cash I can to add to my positions in the companies involved with deep water. FGH is such a company. So are OII FLC RIG VRC and a host of others. IMO the capex damn is bustin' wide open before our very eyes. I WILL be there - bet on it. I am prepared to wait and build positions for the longer term here. Whenever investor attention becomes focused on this sector I plan to be holding boucoup stock. Bull

To: SargeK who wrote (55644)	11/30/1999 8:13:00 AM
From: SargeK	Respond to of 95453

Q&A Hastings-FGH/IR To: Hastings, John Subject: Status of "Millennium S.A." Sent: Wednesday, November 24, 1999 8:28 AM 1. Will you please clarify status of the "Millennium S.A., semisubmersible" ? The 10Q, dated 11/15/99 states: " The backlog amount includes a $143.5 million contract for the new construction of a Friede & Goldman, Ltd. designed Millennium S.A., semisubmersible offshore drilling rig that is subject to the owner's securing rig financing. Such financing is expected to be secured in the fourth quarter of 1999." Your response to my previous E-Mail enquiry states: "FGH is building a Millenium-class semisubmersible drilling unit for use in Brazil." 2. Will you again address the issue of the conflicting fundamental data which is being presented for public consumption. Examples: Merrill Lynch reports 40.1m shares outstanding, Market Cap of $380.m (@9 1/2). They also report FY2000 Estimated EPS as $.50 CONTRAST THIS WITH: Thompsons (which provides research data to DATEK) reports Shares Outstanding of 23.42m shares, Market Cap of $222.52 (based on 9 1/2) and further reports the Short Interest of 2,759,244 shares. As to the latter point, Barrons reports the Short Interest as 1,876,952 shares in its latest issue. Most of the services report the 52 week H/L of FGH as 20 1/8 and 8 7/8 (hit yesterday). Since FGH is NOT the same company as FGI, data such as this should begin on 11/4/99 and reflect the High as 10 7/8 and the Low as 8 7/8. Will you provide an update on your efforts to resolve these and other issues such as: When do you expect resolution of the Ocean Rig dispute? and when do you anticipate contracts for "the expected orders" which were delayed? Thanks in Advance. Regards SargeK Note: As before, I will likely post verbatim, my questions and your answers on Silicon Investor "Strictly Drilling" and on YAHOO FGH message board. From: "Hastings, John" <J.Hastings@fgh.com> Date: Mon, 29 Nov 1999 22:35:09 -0600 Dear Sarge: In response to your questions: 1. To date, FGH has performed preliminary engineering work on the Millenium rig mentioned in my previous e-mail. Physical construction has not yet begun and financing under the MARAD Title XI program has not yet been finalized. The company will make a public announcement when financing has been completed. 2. The Merrill Lynch information cited //below// (referring to info in Q2, above) is correct for the post-merged company. The challenge of identifying sources of erroneous information is significant. I will add Thompsons to my list of sources to inform of the new corporate information. Until FGH begins to report consolidated financial statements in early 2000, I can only suggest that you refer to the merger prospectus for pro forma financial information. In regards to the high and low prices, FGI's historical prices are valid. The merger transaction was treated as a purchase of HLX by FGI, after which FGI changed its name to Friede Goldman Halter and changed the ticker symbol to FGH. Given the sensitive nature of the Ocean Rig dispute, our comments on the timing and outcome of a resolution are very limited. We anticipate that the arbitration process should yield a decision prior to the end of the first quarter of FY00. New contracts are announced when final agreements have been signed and down payments have been received. Thank you for your strong interest in FGH and continue to contact me with any questions. John Hastings