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

To: stevedhu who wrote (61880)	3/9/2000 4:21:00 PM
From: Think4Yourself	Read Replies (2) \| Respond to of 95453

Global Marine Q1 earnings hurt by rig downtime HOUSTON, March 9 (Reuters) - Global Marine Inc. (NYSE:GLM - news) said Thursday first quarter earnings before taxes have been cut about $5.2 million by rig downtime. The company also said it will take a first quarter charge of about $5 million before taxes to cover the costs related to undisclosed staff cuts and office consolidations. These changes are expected to result in annual pretax savings of about $6 million, with about $4 million in savings expected to be realized this year, the company said in a statement. Since the beginning of 2000, Global Marine said, "the U.S. Gulf of Mexico rig market has remained strong and the West Africa market has continued to improve. ``Unfortunately, while our two largest markets were improving, we experienced some unanticipated downtime in January and February 2000 that will reduce the earnings contribution of our deepwater fleet by about $5.2 million in the first quarter.' It said the rig downtime, which will reduce net income about $3.6 million, was primarily related to repairs to the blowout preventer on the drillship Glomar Explorer which is operating in West Africa waters for Texaco Inc. (NYSE:TX - news).

To: stevedhu who wrote (61880)	3/9/2000 4:26:00 PM
From: SliderOnTheBlack	Respond to of 95453

EEX - how about the 5 million shares the last 2 days from $2.75 ? ...hmmm; I remember EEX - that was another low float, low market cap pump & dump wasn't it (VBG) ? ...cosmo; obviously you grew up in a monastery and not a locker room; I wont apologize for still having measurable amounts of testosterone (VBG)... and I did grown up in a lockerroom - literally fwiw ~ So; anyone else waiting with baited breath for SargeK - Deep Water Explorers et al's - newest screen name (VBG) ? Bought WM & AFS today Jim L - small nab on limit buys; watching Fleet First Boston as well, GSB, maybe SVRN later...in the $6's if seen. AFS is an interesting financial company - global, broadly diversified - and a historic execution record of continual earnings growth; I know people with this org - top company; look at the chart - huge, huge upside; lots of volume - which preceeds price by the way !