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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 (81922)	12/16/2000 9:04:46 PM
From: Big Dog	Respond to of 95453

For those interested in FGH (as I read in a previous post), for something other than a dead cat bounce scalp, just be aware of a considerable problem they face: 1. How do they attract multiple rig orders (that are sure to be coming, but the yards of The East are fierce competitors)? Without big orders they will have a hard time managing the 270 million dollars of debt - mostly taken on when they brought in Halter. 2. How can they restore credibility and give comfort to companies that would place such rig orders? I think FGH has a serious problem in light of all the lawsuits, delays and sundry problems that have cursed them on the Ocean Rig rigs and (to a lesser extent) the Amethyst rigs. So the company has somewhat of a circular problem...no orders spells doom and they can't get any orders till they 'prove themselves worthy'...and they can't prove themselves worthy until they get orders. Tough job. Very tough job. I know the new Prez and CEO John Alford is working very hard to solve these problems, and he is a good guy and smart/hard worker...but it will be a very steep hill to climb. big