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

To: SargeK who wrote (59233)	1/27/2000 10:22:00 AM
From: SliderOnTheBlack	Read Replies (2) \| Respond to of 95453

re: FGH <I expect a favorable news release today or tomorrow! FWIW> Sarge is that now part of your "signature line" or just standard boilerplate ?

To: SargeK who wrote (59233)	1/27/2000 10:49:00 AM
From: Big Dog	Read Replies (1) \| Respond to of 95453

<<<Millenium 2000 The Company may remove this $145 million (former Halter) project from back-log in 4Q/99 since it does not meet the normal contractual standards by which Friede counts its back-log. The Company had expected this issue to be resolved during 4Q/99. >>> Sarge, Don't know where you got this, but it is wrong. The Millenium was NEVER a Halter project. The price is $143.2 million. And as I said before, the reason it is being removed from the backlog is that the customer (Schahin) has been unable to get Petrobras to confirm the 6-yr drilling contract against which the rig was being built. For the last 12-13 months this has been the case, so it's come time to take it off the back log. This, however, does not mean that wacky Petrobras oculd not revive the project any day. Not likely though since, as opposed to Petrodrill, Schahin has not invested one penny in cash in the project, so they have nothing to lose if Petrobras axes the 6-yr contract. big atoffshore.com