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To: Charles Macdonald who wrote (62190)	3/15/2000 1:26:00 PM
From: SliderOnTheBlack	Read Replies (2) \| Respond to of 95453

FGH delay ? Well, I sold my "trading" position fwiw Delays are traditionally NOT good news. Imo, not wanting to start a spamorama food fight with "you know who" - the germane keywords & phrase was: "allow a more detailed discussion" ... as in - "they are expecting quite a bit of questioning - probably the accounting issues, goodwill - charges etc. Quality of earnings is also the issue in the keeping their earlier projected earnings estimates - they marked "UP" to market so to speak their HLX contracts etc. I'm out - too many other buys off of this retrace - I was hoping to get a pop to $7's-$8ish on the positive anticipation of what JL might have to say, or release. Imo - there will NOT be any significant good news - just the same ole re-hash; and from this release - they are expecting plenty of questions. The stocks behavior in this price range - after JL's "all clear" - is NOT bullish imo... I'm out - and going to better risk vs. reward plays with ramping fundies I love OXY here - that huge option bet - the new acquisition - their prior mo support in the low $20's in Jan etc and I love P with their Arco acquisition - this has now made them an monster earnings machine AND a plum to be acquired by yet another Major. UPR & BSNX each will break up 40%ish imo - these I will build margin postions in here for 2:1, or 80% type of trading returns - they will bring home the bacon - bank on it. HAL here - is a must add, own, PGO a gift - look at that gap to VTS here - it will be closed substantially. Adding drillers GLM & FLC here on weakness - plenty of upside to these two laggards. DO close again - near $30 grab it in siZe. re: FGH - Too many other plays here to "gamble" on what the institutions will do off of this delay which is pointing to an acknowledged expectation of lots of questions imo... PS - yes ! those financials did break up a bit didn't they ! FBF is another winner - great foundation stock.

To: Charles Macdonald who wrote (62190)	3/15/2000 2:27:00 PM
From: SargeK	Read Replies (1) \| Respond to of 95453

Charles Macdonald: "Any thoughts on what this means?" It very possibly means FGH is delaying detailed information of the disastrous 4Q/99 quarter results UNTIL 1Q/00 is complete. On Feb 22nd, FGH announced "The company is scheduled to release its fourth-quarter and full-year results on March 15." cbs.marketwatch.com. Comment: If recent Company releases are COMPLETE & ACCURATE, we KNOW very little was added to backlog in 4Q/99 and the rumor was the $143.5m Millenium S.A. may be removed from backlog. The delay may be some wishful thinking that 1Q/00 RESULTS may further cushion the impact of last years earnings losses and the significant decrease in BACKLOG. The $241m (announced) additions to backlog this quarter certainly mitigate results of the prior quarter; but, this is ALREADY known. I can only speculate that the FURTHER DELAY of information may be associated with some progress on the Amethyst rigs dispute WHICH arguably may be the remaining, MOST significant factor with regard to 4Q estimated results. FWIW SargeK NOTE: Sadly; but, characteristically, today's Press Release, raises more questions than it answers. "EYES ONLY FOR Mr. J. L. Holloway" If you need some HELP in Investors Relations, CALL ME! Hastings has the number. >g<