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Gold/Mining/Energy : Friede Goldman Halter (FGH) -- Ignore unavailable to you. Want to Upgrade?

To: SargeK who wrote (56)	4/1/2000 10:19:00 AM
From: BigBull	Read Replies (1) \| Respond to of 177

Sarge - Why the EISA jv may loom large. In issue #76 of the now defunct Offshore Drilling Bits, Mike Simmons (aka Big Dog) wrote about developments in the Brazilian offshore oil industry. Apparently the Brazilian govt. (via the Ministry of Transportation) has taken protectionist measures to limit the use of foreign built supply boats in their fields. How far these measures go to limit foreign boats go, I don't know, the Dog didn't say. Petrobras uses 130 supply boats of which only 33 are of Brazilian manufacture. Petrobras has put out bids for 21 boats in 2000. Doing a jv with this big Brazilian yard may get Friede on the inside track for some of this work. I don't know the Brazilian fab industry that well at all, maybe we could run down EISA's subsidiaries to see how well this company is placed to participate in the big Brazilian offshore boom that's coming. FGH's press release characterizes EISA in glowing terms. Are they that big? And do they stand to get FPSO business? You tell me! At any rate, if protectionism extends to rig building then FGH may have beaten the Korean yards out of the blocks here. Bull