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

To: s. sorrell who wrote (4415)	12/3/1997 11:31:00 PM
From: Flan	Respond to of 95453

FGII has made a series of announcements about new build contracts in recent weeks - Although I think the real earnings power for this company will kick in two years from now - I am wondering about what appears to be alot of announcements of new builds. When do you get concerned about these types of announcements. From what I understand the time to sell is when these companies start to ramp up new builds. Long a boatload of oil serice stocks and looking for some thoughts on this perspective. Being Irish did not help me today 2 of my five service stocks were down (TESOF, DPSI) How is that possible.

To: s. sorrell who wrote (4415)	12/4/1997 8:00:00 AM
From: Big Dog	Respond to of 95453

If you have ever built anything you know that change orders are very expensive. This is where the contractor (FGII) will slam some margin. I'm tellin' you guys -- Holloway is a money making machine. Just hide in the bushes and watch. << The contract was originally set for $87 million, but Holloway said additional changes would likely push the project cost to in excess of $100 million. .... " We knew this was coming, and there are a number of other projects to come", Holloway said. >>