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

To: upanddown who wrote (12493)	8/25/2002 3:11:08 AM
From: nspolar	Respond to of 206334

Jeez, really did myself a favor??? Briefly and I'm a little rusty. (Bear in mind this takes time, so I'll leave out some nonessentials.) As I pointed out I believe it very important to watch the Oslo bourse. I have found it somewhat incomprehensible that many who have played and lost (as most of us have on net), think the NYSE drives this stock. I think that is nonsense. This is a Norwegian company, not a US company. I lived in Norway for 8 yrs. The lotto is very big. Norwegians like to gamble, they are very big on rumor as opposed to hard facts, and greed and envy are a very big part of the culture. I can't stress the rumor part enough. This stock is a conundrum. I can not come up with a fundamental reason for the price to be as low as it is. Unusual given that they aren't close to BK. On the other hand the stock has reason to be low in price, but ... In short I think part of the reason is the climate in Norway. The local market has lost complete and utter confidence in PGS, and they've hammered it incessantly. The Norwegian culture has been a factor. It could be the case that they've hammered it too hard. I read an interesting post on the VTS board the other day. It summarized that VTS messed up by not buying PGO. Could be the case. I have never heard anyone criticize PGO's technology and capabilities. Never (although seismic is not my area of technical expertise.) The Norwegians are very good with computers, surprisingly good. All part of the game. Most of us have been pummeled to the point we lack confidence as well. I have a small dab at just above 3, and a nice dab at .40. I'm going to trade this thing technically from herein - i.e. use very tight stops. I personally think the Norske charts indicate a possible return to the 20/30 Kroner range. Imho. ---------------------------------------------------- NHO-sjefen satser høyt i PGS-lotto Head of NHO speculates (or gambles) big in the PGS lottery. Billigsalg. NHO-sjef Jens Ulltveit-Moe satser millioner på at det gjeldstyngede seismikkselskapet PGS kommer på rett kjøl. Dersom selskapet reddes, kan investeringen vise seg å være gullkantet. Men fortsatt henger konkurrsspøkelset over det gjeldstyngede PGS. Cheap sale. NHO chief gambles a million that the debt laden seismic company PGS is on the right track. If the company survives the investment will be a gold mine. Yada Yada. ALF OLE ASK Kjøper opp. Petroleum Geo-Services har i sommer rast på børsen. Fusjonen med det canadiske Veritas gikk i vasken og PGS tynges av gjeld. I den situasjonen har NHO-president Jens Ulltveit-Moe gjennom Umoe Invest kjøpt 10,06 prosent av selskapet og er dermed PGS' største norske aksjonær. Det er bare Citibank som gjennom sine klient konti er større. Yada yada - nothing new. JUV through Umoe Invest has purchased 10.06 % and is PGS' largest Norske shareholder. Only Citibank through their clients accounts are larger. Det har vært spekulert i at Umoe også er medeier i obligasjonslånene til PGS og dermed nå både sitter som eier og långiver i de gjeldsforhandlingene som må komme. Konserndirektør Erlend Grimstad i Umoe vil ikke svare på om Umoe er inne på lånesiden. It is speculated that Umoe is also a co-owner in loans to PGS, and therefore both sit on the loans and debt proceedings that come up. Director of UMoe, EG will not comment on whether or not Umoe is in on the loans. Umoe eier nå 10,4 millioner aksjer kjøpt over tid. Konserndirektør Erlend Grimstad i Umoe gruppen vil ikke si noe om når aksjene er kjøpt. Men i de siste ukene har kursen på Umoe-aksjer ligget rundt tre til fire kroner pr. aksje. Yada Yada - EG will not comment as to when Umoe purchased all their shares. Da Umoe i går flagget sitt eierskap førte det til at kursen på PGS aksjen spratt opp til 5,92 kroner. Det betyr at aksjen er på det høyeste nivået siden 30. juli, da fusjonen med Veritas DGC sprakk. For ett år siden var aksjekursen 110 kroner. Med et kursfall på over 90 prosent er det åpenbart at aktørene i aksjemarkedet ikke har stor tillit til selskapet og ledelsen. After Umoe announced their ownership the stock shot up to 5.92 Kr. Yada Yada ... with a 90 % fall in the stock price, it is obvious the market has little confidence in the PGS leaders. Investor ansvarlig i PGS, Dag Reynolds uttalte til ulike medier i går at selskapet ser lyst på å få Umoe inn på eiersiden. Investor spokeperson for PGS stated that different co-owners saw it advantageous to get Umoe in on the ownership side. Oljeproduksjon Dersom oljeproduksjons- og seismikk-selskapet PGS reddes, kan NHO-sjefens investering vise seg å være gullkantet. PGS er et selskap som på mange måter har vært teknologisk ledende innenfor seismikk og selskapet har spesialisert seg på flytende olje- og gass produksjon. Det er da også det spennende teknologiske som Umoe fremhever når selskapet begrunner sin investering. Just BS about the possible gold mine her and a little about PGS' capabilities and leadership in technology. Nothing that we don't know. PGS får nå en aktiv industriell eier. Selskapet har frem til nå stort sett vært dominert av institusjonelle eiere. Styret har vært styreformann Michaelsens håndplukkede menn. PGS now gets an active industrial owner. Until now the company has in large been owned by institutions. The PGS leaders have been Michaelsens chosen men. Gründer og styreformann og administrerende direktør Reidar Michaelsen har vært en eneveldig leder av PGS i så vel oppgang som under havariet. .... nothing important. Tillit til Michaelsen Confidence in Michaelsen. I de siste ukene har en rekke analytikere og andre ment at Michaelsen kan være et hinder for tillit til selskapet. In the recent weeks a slew of analysts and others have indicated that Michaelsen can be a hindrance with respect to the confidence of the company. - Har dere tillit til Michaelsen? Have you confident in Michaelsen? - Det har vi ingen kommentar til, sier konserndirektør Erlend Grimstad i Umoe gruppen til Aftenposten. EG, director of Umoe, will not comment on the situation. Michaelsen har varslet at han går av som administrerende direktør ved nyttår, men han har ambisjoner om å fortsette som styreformann. Michaelson has announced that he will leave is administrator director position (CEO) at the biginning of the year, but has ambitions to continue as leader of the board. (This is how I interpret this and this is news to me). Mange mener det bare er et tidsspørsmål før Michaelsen må gå to å bidra til å gjenopprette tillit til selskapet. Several believe that it is just a question of time before Michaelsen must go to contribute to the rebuilding of confidence in the company. - Vi er en langsiktig industriell Annonse Bascially stating that Umoe sees this as a longterm investment. Navn Firmanavn Adr. Postnr/sted E-mail Tlf investor. Vi er selvsagt klar over at selskapet har endel utfordringer, sier Grimstad. We are of course clear that the company has a lot of challenges (ahead), says G. - Kommer dere nå til å kreve styreplass? Will you now demand a director seat? - Det har vi heller ikke noen kommentar til nå, sier han og ler hjertelig når vi spør om Umoe har til hensikt å kjøpe seg ytterligere opp. No comment - and he laughs heartily when asked if they will buy even more shares. - Nice try, sier den tidligere Senterpartipolitikeren som etter en periode som statssekretær i Olje- og energidepartementet ble konserndirektør i Umoe. Just BS. - Har dere vært i kontakt med andre aksjonærer i selskapet om den situasjonen selskapet befinner seg i? Have you been in contact with other shareholders about the present situation. - Vi har ikke ytterligere kommentarer til dette nå, sier Grimstad. No comment.

To: upanddown who wrote (12493)	8/25/2002 9:37:51 AM
From: jim_p	Read Replies (1) \| Respond to of 206334

John, Here's a computer translation: NHO- boss a large stake in PGS-lotto Lowest. NHO- boss Jens Ulltveit-Moe stake millions at that facts gjeldstyngede seismik kselskapet PGS comes on an even keel. If company bail out, able investment prove to be gullkantet. But continued drape konkurrsspøkel set above facts gjeldstyngede PGS. ALF OLE ASK Buyer up. Petroleum Geo- Service has last summer halt atbørsen. Amalgamation with the Canadian A veritable stepped in wash and PGS lie heavy at debt. IN it condition has NHO- president Jens Ulltveit-Moe by Umoe Invest bought 10.06, per cent at company and am with that PGS' greatest Norwegian shareholder. It is the only Citibank as by her client contact am bigger. It has been was gambling in that Umoe also am the joint owner in bond issue at PGS and with that now both sit as owner and lender with the gjelds for handlingene bound to advent. Konsern directør Erlend Grimstad in Umoe won't answer at about Umoe am in at lånesiden. Umoe owner now 10.4, million shares bought above interval. Konsern directør Erlend Grimstad in Umoe bracket won't say any about as shares is bought. But in they lastly the weeks has the price of Umoe- shares come around three at four crown pr. share As Umoe yesterday ensign her the ownership directed facts at that the price of PGS share was jumping up at 5.92, crown. That means that share is on the facts greatly data level afterwards 30. July, as amalgamation along with A veritable DGC cracked. For a year afterwards stayed rate of stocks 110 crown. Along with a depreciation at above 90 per cent is it apparent that aktørene in aksjemarkedet no matter has bumper relying on company and conductorship Investor responsible in PGS, Day Reynolds declared at different the media yesterday that company discern delight at to a few Umoe in ateiersiden. Oljeproduksjon Ifoljeproduksjons- and seismikk- company PGS bail out, ableNHO- manager's investment prove to be gullkantet. PGS ama company as at a good many methods has been technological conducting inside seismikk and company has specialized her atafloat oil- and gas output. It is the as also facts absorbing technological as Umoe accentuates as company give one's reason for her investment. PGS getting now a active industrial owner. Company has along at now large sett been was dominating at the institutions holders. Committee has been chairman Michaelsens håndplukkede men. Gründer and chairman and managing director Reidar Michaelsen has been a absolute rule administrator at PGS in saw well the increase as under breakdown. Relying on Michaelsen In they lastly the weeks have a array analysts and other ment that Michaelsen can be a block for relying on company. - Has you relying on Michaelsen? - It has we neither annotation at, say konserndirektør Erlend Grimstad in Umoe bracket at Evening post. Michaelsen has warned that he am outgoing as managing director against New Year, but he has ambitions about to carry on as chairman. A good many considers facts only am a tidsspørsmål a prior Michaelsen must go dates back to to contribute at to restore confidence in company. - Weam a langsiktig industrial Annonse investor We're obviously apparent above that company has at last challenge, say Grimstad. - Comes you now at to ask for styreplass? - It has we nor a few annotationat now, say he and am laughing cordial as we ask questions about Umoe has at intent to buy her additional up. - Nice try, say it a prior Senterpartipolitikeren as after a period as statssekretær in Oil- and energy departementet became konsern direktør in Umoe. - Has you been in contact a long with other shareholders in company about it condition company tied up her in? - We have no matter additional comments at this now, say Grimstad.