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

To: Big Dog who wrote (63954)	4/6/2000 10:51:00 AM
From: SliderOnTheBlack	Respond to of 95453

Big Dog; no I was not a questioner - they wouldn't let the Mike Wallace of the oilpatch on ! ... I too was amazed at the lack of questions, interest. Do not get me wrong, I have hammered the guy & the company; but I honestly feel they deserved it - and given the cheer leading that we've seen here - to the point of denial imho; perhaps I was a bit over-board in my criticism; but my main points hold true. The failure to answer the liquidity & days of operation question raised further doubts, fear and questions - I would expect selling from the call and a re-test of the lows. How fast they can sell non-core assets and what their net will be is of primary importance; but - of even more importance is their operating health right here, right now... Merrill when they suspended their coverage/rating - was a "Alarm" that investors should have heeded. Imho; FGH can certainly rise again; but the challenges are perhaps a bit more serious than many have admitted, or known here. Quite simply; there is NOTHING of an immediate catalyst nature to propel FGH stock to $10+ imho - given the absolute crux of a major multi-year Oilpatch boom that is turning here - we are seeing the last real buying opp on some of the "name" players imho - one has to put their money to work there now; given that money in FGH has not just been DEAD MONEY - but, has been BAD MONEY - again; no one doubts the upside in the industry & deep water; but one must latch onto the right vehicles - FLC went from $5 to $22 allmost the same time that FGH went from $22 to $5... With FGH - there is plenty of time to catch the potential upside. Let JL prove he is as good as many say he is; and he well may be; but it is now time to have him show us the money - one can no longer sit in dead & declining money/stock while the rest of the oilpatch runs... Wait & watch imho; sell what you have now; if you must - buy some far out "Calls" perhaps - but , put the money to work in something that is going to be carried by the positive momenteum here that is a coiled spring. The biggest mistake individual investors make is they ignore risk, or fail to properly weigh it in the risk vs. reward equation. I acknowlede FGH potentially has as much reward as anything - but, to ignore the risk; virtually of which 95% exists over the next 2-3 qtrs is insane imho. All the risk and little reward potential exists in the next 2-3 qtrs imho, put the money to work somehwere else and wait for the company to show us the money/numbers... its just that simple.