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

To: ItsAllCyclical who wrote (61931)	3/10/2000 1:41:00 PM
From: Think4Yourself	Read Replies (1) \| Respond to of 95453

I'll only add more RRC in the 1's, given the downgrade by McDonald Investments. They are doing better but still have problems, and might not participate in the inevitable runup these next few months. Since it is not marginable, the opportunity cost is too high for my tastes.

To: ItsAllCyclical who wrote (61931)	3/10/2000 1:53:00 PM
From: SliderOnTheBlack	Read Replies (2) \| Respond to of 95453

Jim L - agree on OXY - price targets from $28 to $35 I am loaded allready here. I liked the new acquisition & Fadel Gheit says P UCL and OXY all have less than 12 mos survival time as independant companies - all three get bought and soon; especially after the Arco deal gets settled. If P buys those ARCO assets - it becomes food... gourmet food. P UCL TX OXY all are incredible risk vs. reward & highly leverageable/marginable/optionable plays... I bought some FST at 8 7/8ths yesterday - will add big on any retest of the $7's - unlikely; this is a popper to $12 imho and BSNX a popper to $15, or even $18 and sees the $20's by year end. RRC is very unique. Big hedges on short the common and long the preferred converts. Then RRC correctly buys back this hedged preferred of which the hedge kills the common and keeps the lid on the shareprice; but by buying it back with common - the holders then sell the common - diluting and pressuring the stock down even more. It hurts the stock in the nearterm, but helps both the company and the stock in the longterm. Look at the Institutional holders - a few of their top holders understand this and have bought the hell out of these retraces. RRC is selling a gas plant and will buy back/pay down more debt. When this gets eliminated - and that pressure on the common is relieved - off we go to base in the low-mid $3's in a worst case scenario and if they have some drillbit success - $5-$7. This is a reasonable 2-3 bagger play - one must be patient. But, it certainly has much more transparent financials and the security of a JV with First Energy than say a micro like MEXP which is nearly imossible to garner any financial details from. Again, own the small,micro's in a basket... no need to get crazy... RGO is still cheap - see's $5 again on some drillbit news.