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: Brad Hill who wrote (4329)	12/3/1997 12:00:00 PM
From: tyc	Respond to of 95453

Company Press Release J. Ray McDermott Awarded Contract by Shell NEW ORLEANS--(BUSINESS WIRE)--Dec. 3, 1997--J. Ray McDermott (NYSE:JRM - news) has been awarded a contract from Shell Offshore Inc., valued at about $25 million, for construction of a fixed-base platform for an offshore development in the Gulf of Mexico. The platform is a light-weight, six-well structure capable of supporting a self-contained drilling rig and equipment for a minimum production facility. JRM will fabricate the three-leg jacket and transport and install the jacket and deck for Shell's Cinnamon development at Green Canyon Block 89, located in 671 feet of water, 176 miles southeast of the mouth of the Mississippi River. The 5,500 short-ton jacket is being fabricated at the company's facility near Morgan City, Louisiana and is scheduled for completion in July, 1998. The jacket is being designed by J. Ray McDermott Engineering-New Orleans under a separate contract to Shell. The installation, which will take place in July, 1998, will utilize the Derrick Barge 50 and shear-leg crane for a dual-lift of the single-piece jacket. The lift will be the heaviest to date in the Gulf of Mexico. When complete, Cinnamon will be the world's deepest tripod, standing 750 feet above the floor of the Gulf of Mexico. J. Ray McDermott, S.A., is a leading worldwide marine construction company. Its services include design, fabrication, transportation, and installation of new and refurbished offshore platforms, installation of offshore pipelines, and design and installation of subsea production facilities for the offshore oil and gas industry. McDermott International, Inc. (NYSE:MDR - news) holds a majority interest in J. Ray McDermott. Contact: J. Ray McDermott, New Orleans Don Washington, 504/587-4080

To: Brad Hill who wrote (4329)	12/3/1997 12:02:00 PM
From: SJS	Read Replies (3) \| Respond to of 95453

I think to step up now and take a position in FSESX in a non-IRA account is going to be needlesly costly from a tax position. In that it is only about 10 days away, I would personally wait. I suspect they'll take possibly $2.00 or more, but it really depends on how much they pulled out in the latest selloff. I think alot. I don't think that what you will make in FSESX in the next 10 days would warrant a position in a fund with a potentially large distrbution. Remember, this fund was up 70% at one time this year, and Fidelity did pull out alot of their profit. Buy the day after the fund distributes. You also get more shares for your $$$, and lower commission costs, if you pay them.