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

To: SliderOnTheBlack who wrote (63692)	4/3/2000 3:18:00 PM
From: DYW	Respond to of 95453

Score one for the SARGE!!! Monday April 3, 2:48 pm Eastern Time Company Press Release Friede Goldman Halter Finalizes $40 Million in New Contracts GULFPORT, Miss.--(BUSINESS WIRE)--April 3, 2000--Friede Goldman Halter, Inc. (NYSE:FGH - news) today announced that it has recently finalized six new contracts with a total value of approximately $40 million. The contracts are with the following customers: The Venezuelan government for the construction of two 153-foot LCU-type logistics support vessels. Financing for the project has been secured through the Export-Import Bank and all guarantees have been obtained. Construction for the vessels is anticipated to begin during the second quarter at the company's Moss Point Marine shipyard in Escatawpa, MS and delivery is slated for the fourth quarter of 2001. Atwood Oceanics for the design and construction of a deepwater mooring system. The 8-point combination traction-winch/windlass mooring system will be installed on the Atwood Eagle, a semisubmersible drilling rig capable of operating in water depths up to 5,000 feet. The project will be designed by the FGH Engineered Products Group's AmClyde division and manufactured at the group's BLM Offshore facility in Nantes, France. Delivery is scheduled for January 2001. Transocean Sedco Forex for winterization of SEDCO 714 semisubmersible drilling unit. The work will be performed at Friede Goldman Newfoundland's Cow Head Offshore fabrication facility in Newfoundland, Canada. The initial scope of work is expected to be completed by the end of the second quarter. Atwood Oceanics for the fabrication and installation of equipment to enhance seafloor sliding characteristics for the Atwood Richmond submersible drilling unit. Work has begun at Friede Goldman Offshore Texas' Dockyard facility and is expected to be completed by the end of the second quarter of 2000. Subsidiaries of Harrah's Entertainment, Inc. for the construction of two casino barges. Fabrication of block modules will take place at the Halter Gulfport facility with final assembly at the company's Port Bienville shipyard. Completion is scheduled for second quarter of 2000. Thoma-Sea Boat Builders for the construction of a 150' x 50' tugboat hull and superstructure. The project will be executed at the company's Lockport, LA yard and is scheduled for completion in the fourth quarter of 2000. Friede Goldman Halter is a world leader in the design and manufacture of equipment for the maritime and offshore energy industries. Its operating units are Friede Goldman Offshore (construction, upgrade and repair of drilling units, mobile production units and offshore construction equipment), Halter Marine (construction and repair of ocean-going vessels for commercial and governmental markets), FGH Engineered Products Group (design and manufacture of cranes, winches, mooring systems and marine deck equipment), and Friede & Goldman Ltd. (naval architecture and marine engineering). Note: This press release includes certain statements that may be deemed to be ``forward-looking statements' within the meaning of Section 27A of The Securities Act of 1933, as amended, and Section 21 E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that Friede Goldman Halter expects, believes or anticipates will or may occur in the future, are forward-looking statements. These statements are based on certain assumptions and analyses made by Friede Goldman Halter in light of its experience and its perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of Friede Goldman Halter and which are discussed in Friede Goldman Halter's Registration Statement on Form S-1 and the Annual Report on Form 10-K. Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements.

To: SliderOnTheBlack who wrote (63692)	4/3/2000 3:43:00 PM
From: SargeK	Read Replies (1) \| Respond to of 95453

Slider: "then, maybe then, they will have finally turned the corner." Let's see from 4 7/8 to 8 is only a paltry 64.1% from the all time low set 3 months ago AND it is just now picking up steam!!! >g< As far as the analysts' questions, I thought I had already ask the biggies: 1. Will FGH recapture the $12.8m charge they took in 3Q/99 on Ocean Rig contracts which "they" say they will now break even or make a profit? 2. If the final settlement in the Petrodrill dispute results in a like finding of "Ocean Rig", will the massive charges taken in 4Q/99 be recaptured this year and next (as work progresses) with the revised delivery dates. I think most of the charges will be recaptured and, if so, EARNINGs this year and NEXT will be significantly augmented. Throw in some more new biz like some of the TDW $300.0 million OSV new builds to be announced this year and FGH can have a helluva year! Incidentally, speaking of analysts, a major brokerage firm who covers this issue extensively, stated (just 3 months ago) there would be NO orders for OSVs until the first half of 2001, at the earliest. They must have forgotten to consult with TDW (the world's largest, offshore service operator).. With the agreed extensions in the Ocean Rig and Petrodrill contracts, it appears to this "Analyst" that FGH has under contract MORE business than all the competition combined. I like HAM, I'll leave the SPAM to you with your vast experience in that arena. >g< SargeK PS By the way, @ 8, FGH is only UP 167% from your repeated calls of "3" >>>>VVVBBBGGG<<< Who was it that said? "It's the price of crude, STUPID". I believe it was Big Dog! >g<