Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: diana g who wrote (67316)	5/30/2000 2:13:00 PM
From: SliderOnTheBlack	Read Replies (1) \| Respond to of 95453

o/t Jim L - thank you on QCOM... Okay Diana; we'll add "sassy" to the "tall, single & make lots of money list" (VBG)... JimL; Thanks to your prodding - in & out for 10 1/2 pts...pigs get fat, hogs get slaughtered. Kept 10% of the shares for LT. Looked to be a "bouncer" waiting to happen - irrational selloff on China/Korea issues & broke down sharp on a rally pop day ? - wrong.... thanks. Took half the money & bought an old fav' - GBLX on this recent selloff on irrational issue's concerning the TYCO suit they filed and any liquidity issue's going forward...one of my favorite niche's are these new fibre optic - subsea broadband network builders... see the MFNX contract today - etc... this is the way to play the broadband,iNet-iNet telephony, streaming video etc. - own the pipes that transmit it. I'll sit for the other 1/2 of funds on a new 52 week low for GBLX sub $20ish - a certain takeout upon buildout imho.... all of these transatlantic/pacific/euro-ring fibre optic/broadband network plays are... GBLX is down when all my other telcom/cable/broadband plays were up sharply - I sold them & bought QCOM - flipped that for GBLX; let's see if I can keep the chain moving; I'd love to pick up an intra-day $2-$3 reversal in GBLX today , very possible imo. Got my annual report for PGO today... still love this one. THX woke up this am - it should, 95% NG and less than 4 x cfps and very good earnings.

To: diana g who wrote (67316)	5/30/2000 7:47:00 PM
From: diana g	Read Replies (2) \| Respond to of 95453

TBI/VRC Merger Complete Tuesday May 30, 7:10 pm Eastern Time Company Press Release SOURCE: Varco International, Inc.; Tuboscope Inc. Varco and Tuboscope Complete Merger With Overwhelming Stockholder Support HOUSTON and ORANGE, Calif., May 30 /PRNewswire/ -- Tuboscope Inc. (NYSE: TBI - news) and Varco International, Inc. (NYSE: VRC - news) today announced that they have completed their previously announced merger. The stockholders of Varco International and Tuboscope overwhelmingly approved the merger at separate stockholder meetings held earlier today. The shares of the combined company will be owned equally by the current stockholders of each company. In the merger, which will be accounted for as a pooling of interests, each share of Varco common stock has been converted into 0.7125 shares of Tuboscope common stock. As part of the merger, Tuboscope has changed its corporate name to Varco International, Inc. and its trading symbol to ``VRC''. Based on each company's closing price on May 30, 2000, the combined company will have a market capitalization of approximately $2.0 billion. George Boyadjieff, Chairman and CEO of the combined company said, ``We are very pleased with our stockholders' support and the timely completion of the merger. The combination of these two outstanding organizations creates one of the premier oilfield service and equipment companies in the industry. Our collective strength, technological focus and global capability are expected to benefit our customers, employees and stockholders.'' John Lauletta, President and COO of the new company, continued, ``This is the beginning of an exciting time for everyone at the new organization. We are anxious to begin reaping the rewards of the combined entity and working together to create innovative products and services for our customers.'' Varco International, Inc. is a leader in the design and manufacture of drilling equipment and machinery and rig instrumentation for oil and gas well drilling worldwide. Tuboscope is the world's leading supplier of internal tubular coating and tubular inspection services, solids control equipment and services and coiled tubing and pressure control equipment to the petroleum industry. The foregoing contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The forward-looking statements are those that do not state historical facts and are inherently subject to risk and uncertainties. The forward-looking statements contained herein are based on current expectations and entail various risks and uncertainties that could cause actual results to differ materially from those projected in the forward- looking statements. Such risks and uncertainties include, among others, the cyclical nature of the oilfield services industry, risks associated with the combined company's significant foreign operations, compliance with environmental laws, risks associated with growth through acquisitions and other factors discussed in each of the company's Annual Reports on Form 10-K. SOURCE: Varco International, Inc.; Tuboscope Inc.