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 : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: Willie Lew who wrote (2535)	10/28/1997 11:07:00 PM
From: Willie Lew	Read Replies (2) \| Respond to of 95453

Hi All, I think this is really great major news after FGII closed. This article was from quote.yahoo.com biz.yahoo.com Another plus for fgii. Willie ------------------------------------------------------------------ Tuesday October 28 10:28 PM EST Friede Goldman wins "major" rig contract JACKSON, Miss., Oct 28 (Reuters) - Friede Goldman International Inc, the offshore drilling services company, said Monday it won a ''major'' contract from Noble Drilling (NE) to convert a submersible rig into an EVA-4000 semi submersible rig at the company's Pascagoula shipyard. A spokeswoman for the company said the project was a ''major'' contact for Friede but declined to put a dollar figure on the deal. Noble's submersible rig, the Amos Runner, is expected to arrive at the shipyard in mid-November with a targeted completion date of January 1999, the company said in a statement. Pre-fabrication work on the rig is already underway. The conversion project will include converting the submersible rig into a platform capable of deep water drilling, the company said. ''This new project along with some of our recent announcements has given HAM Marine a record backlog,'' J.L. Holloway chairman and chief executive officer of Friede Goldman International said, referring to the company's HAM Marine unit. The spokeswoman declined to comment on whether the backlog will boost Friede's fourth quarter earnings. She said the rise in the company's stock value Tuesday was more likely a ''recovery'' from ''the hit it took'' Monday than a reaction to the rig contract. The company's stock closed at 34-7/8 Tuesday, up 3-7/8.