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To: Timelord who wrote (87895)	2/21/2001 11:10:25 AM
From: JungleInvestor	Respond to of 95453

Sold my RIG June calls (bought as FLC calls) to buy more SEV before their annual meeting, and expected news, in one week. Am anxiously awaiting VPI earnings report tomorrow - should be blockbuster earnings! Although I still have faith in PGO and FGH longer term, with 20/20 hindsight, wish I had sold my calls earlier as these two have been pummeled in last several days. PGO earnings release stated that Ramform Banff should be back in service in March. Following post from Yahoo PGO board summarizes conference call: <<Con call today by: frenic123 (39/M/Midland Tx Oil Patch) 02/21/01 10:55 am EST Msg: 4585 of 4585 Mgt mea culpas included that they were too aggressive in cap ex during the down turn and that they got the sequence wrong in the fpso biz. I liked the defense of the library which PGO said they "loved" and the market hates. CFO stated their will be no more write downs as the library will realize value, albeit slower than first expected. Stated it is worth 2 billion dollars over the next several years in addition to the 1.5 billion that it has already generated. The total cost was 1.6 billion. Cash flow is strong despite resent events. PGO mgt stated the expected a "major positive turnaround" around July 1st due to fleet utilization rates nearing 100% and healthier E&P bidding starting to show up. I have never liked PGO conference calls to date as they are rather un-revealing. This time around there was great detail, discussion of future vision, and mea culpas. This was the best conference call they have given IMO. Would like to hear other opinions on today's call..... >>