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To: chowder who wrote (12265)	8/17/2002 9:10:40 PM
From: Henrik	Respond to of 206334

PGS/O - CEO's buying bourse looser - Direktør omfavner børstaper. Article by : Artikkel av: Thomas Erling Oksum (15.8.02 06:07) CEO's of two investment companies can see the light in the end of the PGS/O tunnel and are hoarding shares in a crisis company which lost 95% in value. The CEO of Odin Fondene, Ragnhild Wiborg, and the CEO of Odin Forvaltning Jarl Ulvin still believe in PGS/O and they both bought 500,000 shares in the company over the past two weeks. According to Finansavisen the two CEO's are betting on a reorganised PGS/O. PGS/O is not currently in a liquidity crisis, but US$930mil. is due for payment within one year. The company will not be able to meet this payment from current cash flow and in order to raise cash will be forced into a combination of selling part of the company and raise fresh capital. hegnar.no =================================================================== << but then the other view - take you pick or even better apply your own >> A perfect stock tip. Et perfekt aksjetips Artikkel av: Stian Jacobsen (16.8.02 13:57) Several analysis elected to downgrade their estimates and target price of PGS/O after the quarterly results were released in mid-March. One of those most critical of PGS/O was Jan Eiler Fleischer i Gambak Fondsforvaltning. He is not prepared to buy PGS/O shares even at these levels. Fleischer is saying that PGS/O had credibility problems already after the 4th qtr. results when the stock was ~ US$6-7. It is impossible for me to contemplate evaluating PGS/O before the management of the company can be trusted and start reporting correctly. As long as you can not trust the reports provided by the current management I'm not a buyer said Fleischer to TDN Finans. hegnar.no