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

To: chowder who wrote (63155)	3/28/2000 2:29:00 PM
From: SliderOnTheBlack	Respond to of 95453

FGH ? PS - dabum re:RRC; I still have my LT shares & will hold to $5+, or zero... I actually thought it would mount a sustained rally earlier, but took some profits - kept another 10% of shares for a longterm basket hold. They just need to keep paying down debt, lowering costs, buying back preferred and being efficient via the drillbit. A sustained 12-18 mos of $2.75+ Nat Gas (they hedged beautifully)should allow them to reduce debt to liveable levels and attract institutional investors and allow them to expand cap ex spending and pursue some offshore GOM prospects which can ramp up production. $2 was priced for bankruptcy and it's an "option" on survivability - of which I have no doubts they surive. $5 is when, not if imho... Still a great value play, it has its moments and there is no real reason it can't pop to $4+ with $3 gas down the road... Stocks like RRC should be part of a "basket" of small/micro cap plays and maybe limited to 10% of total holdings imho. Right here in this environment - there are too many great stocks with both strong fundamentals and 30-50% upside to recent highs like BPA TX UCL MRO COC HAL PGO UPR etc... there is simply no rhyme, or reason to put anything other than a small % and as part of a "basket play" into any problem stocks imo. FGH still stinkin up the joint; interesting comments on Yahoo the past few weeks about "garage sales" etc. Now Posts alluding to Dane buying the shipbuilding assets etc. Merrill can claim plausible deniability - by suspending their rating on FGH - that should have been a 3 Alarm Red Alert... I dont know if Dane is indeed buying anything, or these are rumors; but wonder if his resignation makes this an "arms length" transaction ? Surely, the stench from the potential screams from shareholders of backdooring assets is not a pretty, or welcome sight... The FGH story just keeps getting slimier imho... curious to see just how far the accounting can be stretched by FGH - Just how much "Goodwill" one man & one company can pack up the asses of its shareholders (VBG) ? Does Guiness, or Ripley's keep records on this ? Sarge, you aint going to be able to walk straight for weeks after this release imho ! ROFLMAO ~