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

To: BigBull who wrote (64434)	4/13/2000 12:04:00 AM
From: Razorbak	Respond to of 95453

Tip of the Week: Coho Energy (New Symbol - OTCBB:CHOH) Bullsky: Put this new equity on your radar screen. It hasn't begun trading yet, but should very soon. Coho Energy is coming out of a Chapter 11 reorganization and riding the wave of improving energy market fundamentals. Those two factors combined make this stock a classic, multi-bagger, golden hook candidate. Studies have shown that post-bankruptcy equities on average generate superior relative to other equities. This one should be no different. Gift of the day from cousin Porker. You can thank me later. ;-) Razor "Coho Energy Reorganizes After Bankruptcy" Monday April 10, 11:18 am Eastern Time DALLAS, April 10 (Reuters) - Coho Energy Inc. (OTC BB:COHO.OB - news), operating under Chapter 11 protection since last August, said Monday that it has started reorganizing to come out of bankruptcy with new ownership, new management and a new bank facility. The oil and gas company and five of its affiliates filed for bankruptcy protection on Aug. 23, 1999, with Coho listing total liabilities of about $425 million at that time. Coho's three largest institutional bondholders converted their debt into about 90 percent of the equity of the reorganized company. The bondholders -- Appaloosa Management LP, Oaktree Capital Management LLC and PPM America -- also provided most of the $72 million in subordinated notes under the reorganization plan. Chase Manhattan Bank is providing Coho with a new $250 million bank facility, Coho said. The company's new board elected Michael McGovern as chief executive officer, replacing resigning CEO Jeffrey Clarke. McGovern most recently served as a managing director with Pembrook Capital Corp. Among the company's other new appointments, Gary Pittman was named chief financial officer, replacing Eddie LeBlanc. Pittman was previously CFO at Bell Geospace Inc. Coho's public shareholders will get 4 percent of the equity in the reorganized company. Equity holders as of Feb. 7 will also receive distributions from the sale of certain Coho assets and after the resolution of existing litigation, if and when certain events occur. The company said it plans to trade over the counter under the new symbol "CHOH" (OTC BB:CHOH.OB - news). The company's reorganization plan became effective on March 31. biz.yahoo.com "Coho Energy Emerges from Chapter 11" Oil and gas company Coho Energy Inc., Dallas, and five of its affiliates, which had been operating under chapter 11 since Aug. 23, reported yesterday that it has consummated a successful plan of reorganization, bringing company out of bankruptcy with new ownership, senior management and a major new bank facility, according to a newswire report. At the time of its filing, Coho listed total liabilities of approximately $425 million. Under the reorganization plan, Coho's three largest institutional bondholders converted their debt into approximately 90 percent of the equity of the reorganized company. Coho's "old" public shareholders will receive 4 percent of the equity in the reorganized company, as well as distributions, if and when certain events occur, from the sale of specific Coho assets and after the resolution of existing litigation. Chase Manhattan Bank is providing Coho with a new bank facility in the amount of $250 million. "This is a positive outcome for Coho," said Stuart Lissner, a managing director at PPM America, who chaired the unsecured creditors committee. "The company has emerged from bankruptcy with a healthier balance sheet and a strong group of financial partners." Coho currently produces around 10,300 barrels of oil equivalent a day and has about 114 million barrels of proven equivalent reserves, two-thirds of which are developed. abiworld.org

To: BigBull who wrote (64434)	4/13/2000 5:03:00 AM
From: double-plus-good	Respond to of 95453

bull, i tend to agree with your call here. despite the promise of outstanding earnings and improved fundamentals, this sector is not immune from the effects of panic in the streets. i went light on the spike to 120 and considered shorting but decided the techs offered more bang. i think we may be on the verge of witnessing a truly spectacular equity market revaluation, perhaps not tomorrow or even this month but certainly soon. i think caution should be the word. hate to say it but near term i look for "postal" type weakness down to osx 90-95 where i hope to do some major buying. i'm holding my real value laggards but that's about it. too dangerous for my blood. tomorrow holds the key. if we can't rally over 112-113 i think we are headed down. best trades to all ++

To: BigBull who wrote (64434)	4/13/2000 7:08:00 AM
From: Post_Patrol	Respond to of 95453

Big Bull....>>I've have gone to 70% cash today. Why?<< Finally seeing the light??? We think so! The Post_Patrol

To: BigBull who wrote (64434)	4/13/2000 9:09:00 AM
From: chowder	Read Replies (2) \| Respond to of 95453

Big Bull, I'm puzzled! Hi Bull! A man's got to do, what a man's got to do. I don't blame you for protecting profits. I'm still fully invested however and some margin. Your comments about going 70% cash got me to thinking. What has me puzzled, is this; why are institutions selling off E&P's in the face of incredible fundamentals? When was the last time April gas was above $3? In spite of a mild winter, inventories are at historical lows for this time of year and on top of this, NG demand is expected to outgrow current supply, aided by the use of gas powered turbines. Enron and Alberta Energy just came out with blow-out numbers and I would assume they'll be a lot more of the E&P's showing good numbers. As an ancient ruler once said, "this is a puzzlement to me." -------------------------------------------------- I find it hard to believe that we see another interest rate hike anytime soon. If there ever was a sign to indicate to government to "keep hands off", then this recent drop in the market speaks volumes to me. Greenspan's intent was to slow the economy, he very well may have done more than that. ------------------------------------------------- Do you think yesterday's action regarding the down day for GLM, while most of the OSX was up, is an indication of GLM's upcoming earnings report? I know their day-rates in the GOM and utilization rate weren't as good as originally anticipated. ---------------------------------------------- A side note to those commenting on GW. GW's greatest asset going forward is their personnel. GW kept their key personnel during the last down cycle as opposed to laying them off. They bit the bullet in anticipation of having a large number of their rigs going to work and they needed qualified personnel to do that. If nothing else, GW management deserves a "kudo" for looking out for their people. ..... Salute! dabum

To: BigBull who wrote (64434)	4/13/2000 9:23:00 AM
From: Archie Meeties	Read Replies (1) \| Respond to of 95453

I pulled out last week and sat on the sidelines for the same reason. But I came back in with some laggards in this group as well as some cheapo canadian e&p's when I saw the strength of the buying in the OSX past two days. That and the support crude/ng has makes me less nervous about getting caught in a downdraft, although more weakness would just be reason to get into the non lagging stocks. Of all the sectors that can move against the NASDAQ, energy is the one. It stands in contrast to tech in terms of valuations and profitability. I'm also still warm to gold/silver. Big cap tech is good for a "short and hold" strategy.