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To: Bernie Diamond who wrote (26451)	10/17/2003 12:13:19 PM
From: ronayre	Respond to of 206085

Speaking of PGO ...old news by now but didn't see it posted: Oct.17, 2003 PGS shareholders approve restructuring plan OSLO (AFX) - Petroleum Geo-Services ASA said that its shareholders have approved the company's first amended plan of reorganisation at its extraordinary general meeting yesterday. The shareholders also approved the proposed candidates for a new board of directors and the issuance of new ordinary shares. Final results of the creditor vote will be presented on Oct 21 and following confirmation, PGS expects to emerge from Chapter 11 bankruptcy protection in November. The reorganisation plan, which involves a conversion of existing bank and bond debt into new debt and a downsizing of PGS' total debt exposure to 1.2 bln usd from 2.5 bln, was filed with the US Bankruptcy Court in September. enercast.com [back]

To: Bernie Diamond who wrote (26451)	10/17/2003 5:21:42 PM
From: mabiba	Read Replies (2) \| Respond to of 206085

Bernie, I am afraid I didn't get the part about the "serious posters": "…and are/will be selling their PGOGY before the rights offering expires…" Do I understand correctly that PGOGY might still be traded while the rights offering of new shares is ongoing? This sounds weird to me... One more info I got from Ameritrade when having PGOGY in a Datek account: One only needs to open a new account (and fund it of course), not transfer the PGOGY shares. They assured me they would recognize my ownership in my Datek account and allow me to buy my new share in my Ameritrade account. Opening the account and doing an internal transfer may take 3 to 5days in all. I will transfer some LT shares I don't want to sell soon, so my PGOGY will remain available for sale in my Datek Account should I decide to do so. Even though I am planning to sell them, I need a backup plan should they stop trading too early.