Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Boots and Coots International Well Control Inc. (WEL) -- Ignore unavailable to you. Want to Upgrade?

To: Can Do Stocks 2 who wrote (97)	3/23/2003 6:41:27 PM
From: Dave Kiernan	Read Replies (1) \| Respond to of 214

It's been great momo trader for last while, hope it continues. Have tried to get a picture of it on Yahoo, but not a trained speed reader, lol.

To: Can Do Stocks 2 who wrote (97)	3/23/2003 8:22:51 PM
From: Gary H	Read Replies (1) \| Respond to of 214

A lot of so called news on WEL over the last week but nobody can produce any hard copy news releases. That in itself is suspicious. If you can't back it up, forget it.

To: Can Do Stocks 2 who wrote (97)	3/24/2003 1:05:30 AM
From: Mr. Aloha	Respond to of 214

With 20 employees left after their downsizing the last couple of years (12, or maybe fewer by now, of whom are oil well experts), 9 of whom are in Iraq, how long will it take those 9 employees to make enough profit (and receive payment) to pay off the 15 mill. in debt to get out of default and bankruptcy risk? With more employees, for the 9 months ended 9/30/02, they had 5.5 mill. in revenue, but had an operating loss for each well event because of high costs. Their net revenue per well event also has decreased over time (down to under $800,000 for the one well event in the quarter ended 9.30/02) as they've had to outsource more and more to third parties. Given that they'll be spread across at least several wells in Iraq, they'll have to outsource much more than they normally would... Can these 9 people make the millions required in the 30-45 days they say it will take to take care of everything? If hundreds of more wells are lit on fire, will these 9 employees get all that work? Trying to figure out if WEL can avoid filing chapter 11, or if they even have any chance under the terms of the Checkpoint loan agreement, which allegedly forces bankruptcy upon default and would cancel the common stock. If that's true, would WEL shareholders get anything even if Saddam lights up all 1500+ oil wells? Anyone know the terms of the Prudential loan agreement, of which they've been in default for quite a while? Any insights would be appreciated...