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

To: pbd007 who wrote (87560)	2/17/2001 10:33:20 AM
From: Razorbak	Read Replies (2) \| Respond to of 95453

WEL - My New Year's "Runt" Boots & Coots was mostly a Lazarus play, since I'm a turnaround consultant, and I'm always looking for good turnaround plays for the speculative portion of my portfolio. However, some sentiment was involved as well. I once collaborated with Jerry Winchester, B&C's CEO, several years ago on a proposal to OGDC in Pakistan when we were both still worked for Halliburton, and I was pretty impressed by his knowledge, experience, and attitude. I bought at $0.50 on January 3rd when the announcement of the balance sheet restructuring was made... biz.yahoo.com Anyone who was following the stock in its 2000 spiral downward knows that this restructuring made a huge improvement to the company's basic financial condition. Pretty impressive deal, IMHO, for a company with one foot figuratively already in the grave. Obviously the Mississippi gas well blowout was behind the latest move. biz.yahoo.com T/A indicates that it's way overbought now, so I sold the news yesterday afternoon at $0.90. Can't pass up an 80% gain in 1 1/2 months. Not in this market! When the T/A bottoms and reverses, I'll probably re-enter. So tell me about the Company's business plan and why it's doomed to fail? Regards, Razor

To: pbd007 who wrote (87560)	2/17/2001 5:09:00 PM
From: pbd007	Read Replies (1) \| Respond to of 95453

Razorback, "doomed to failure" was a bit of hyperbole. Sorry. I don't know Winchester but I spent a couple of hours with Ramming about three years ago. I've never been convinced that providing well control services was a viable business model for a public company. Revenue stream too uncertain. Linking their service to the OEE insurance policies smoothes out the revenue stream a bit, but it seems they need regularly occurring catastrophes to make money. Obviously, their attempt at diversification was an abject failure. Good Luck with it. Apologies to the board for my intemperate remark last evening