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

To: SargeK who wrote (57998)	1/6/2000 12:12:00 PM
From: Post_Patrol	Read Replies (1) \| Respond to of 95453

SargeK......thanks! very good post Later, the Patrol

To: SargeK who wrote (57998)	1/6/2000 12:26:00 PM
From: ItsAllCyclical	Respond to of 95453

Sarge bought a little FGH today for a dead-cat bounce if nothing else. Also buying PXD heavy as it's one of the cheapest large cap E&P's yet to bounce with a nice weighting toward oil. Bought more FLC today too. Let's see if this rally can last for a change. The XOI breaking to new highs would help.

To: SargeK who wrote (57998)	1/11/2000 10:21:00 AM
From: SargeK	Read Replies (1) \| Respond to of 95453

Regarding the RUMORS. I am waiting for a return call from John Hastings FGH/IR. Will post any information received in this regard. My most recent conversation (w/Hastings- Jan 6th) regarding FGH manpower is as follows: "Q - What is the status of the integration process of the merged companies? Are there any hitches? A - Going Fine. We have our strategic plan put in place here. We are evaluating a number of none core assets for divestiture to free up some cash. We are assimilating the two systems of accounting and integrating all the different things to make it one company. Things are going smoothly and we are not running into any major problems. Generally speaking, things are going quite well. Q - What is the general status of overall business activity? A - We have quite a few Bids outstanding right now. We are experiencing a very solid level of inquiries for a wide range of - not only vessel type projects; but, also other off shore energy projects whether its construction project or an upgrade to an existing piece. Not so much new construction right now; but, lots of inquiries on upgrades, retrofits and people looking to bringing equipment back into service. Q - You have higher margins there anyway, don't you? A - We do; but, of course they are smaller dollars and are accomplished more quickly. Q - They do keep your crews busy don't they? A - That's right, they sure do! Q - While talking about that, what is the status of manpower right now? Are you hiring, firing, maintaining the status quo, What? A - Right now, pretty constant, Of course that all depends on the status of work at an individual yard. We are utilizing attrition because of some slow down in our work instead of laying people off. We also use a number of contract laborers. We probably have over a 1000 contract workers, right now. We can shift those levels up and down without losing our corps group of craft workers. Q - What would you say is the total employment of the Company, right now? A - Approximately 9000 which is about the same as 3 months ago." SargeK