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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: jim_p who wrote (8687)	4/4/2002 8:30:41 PM
From: wildandwonderful	Respond to of 206112

Halliburton's Temporary Court Stay on Asbestos Cases Extended By Jim Kennett Dallas, April 4 (Bloomberg) -- Halliburton Co., the second- largest oilfield-services company, will remain shielded from more than 200,000 asbestos-related claims against its Dresser Industries construction unit until the judge hearing the case returns from vacation, a spokeswoman said. ``The temporary stay has been continued,'' Halliburton spokeswoman Wendy Hall said following a hearing in Pennsylvania bankruptcy court. ``The judge is going on vacation and she's not going to make a decision until she gets back.'' Hall didn't know if a new court date had been scheduled. U.S. bankruptcy Judge Judith Fitzgerald halted the cases in February after Harbison-Walker Refractories Co., formerly owned by Dresser, filed for Chapter 11 protection from creditors. Halliburton faces asbestos claims through its former ownership of Harbison, based in Pittsburgh and now owned by RHI AG of Austria. Halliburton intends to use Harbison's bankruptcy process to establish a trust to handle past, present and future asbestos claims. That requires the approval of 75 percent of plaintiffs. Shares of Dallas-based Halliburton had fallen 49 percent from a year earlier after three asbestos verdicts totaling $152 million sparked concern about its asbestos liabilities. Halliburton fell 5 cents to $16.59 in late trading.

To: jim_p who wrote (8687)	4/4/2002 10:11:01 PM
From: Ed Ajootian	Respond to of 206112

Jim_p, I hear ya, and I am not taking a really big position in it. Their recent stats are pretty hideous -- I believe they need almost $4 gas just to break even. But I still can't resist getting into a situation where all the sins of the past can be cured with the drill bit turning to the right in a major play, and with a little help from Mother Nature!