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: SJS who wrote (16918)	3/27/1998 5:21:00 PM
From: Bazmataz	Respond to of 95453

Anyone follow MDR? Seemed to hold up well Oct-Mar and makes new highs almost every day. Just curious if anyone else is holding this one... BAz

To: SJS who wrote (16918)	3/27/1998 7:51:00 PM
From: sand wedge	Read Replies (4) \| Respond to of 95453

Regarding the numerous posts attempting to keep us "on topic" I have a different take. Assuming of course all things within reason, the exact "thing" that makes this thread great is that you never know what the next message will be: is it an indepth analysis of the cash flow of the floaters going forward, a TA vs FA debate, a tick by tick reporting movements of stocks throughout the day?, a lesson in how to make the "whole" hawg or the never ending saga of our man beeblebrox. (not to mention the big dogisms we are treated to now and then). It's the diversity of knowledge interspliced with the humor, personality and overall good vibs that makes this a unique place. Again, moderation is a good thing. I do know what it's like to be gone for two days and get faced with 400 posts. But I think thats the price you pay for a thread like we have here. One I hope doesnt change soon Just one golf clubs' opinion (quietly stepping off the box........into an asbestos suit)

To: SJS who wrote (16918)	3/27/1998 9:50:00 PM
From: Big Dog	Respond to of 95453

Steve - Don't really know anything about Horizon. They were on a road show in Oslo recently and my Oslo office was asking me about them too. Don't see anything there for me. Plenty of other ponies to ride.

To: SJS who wrote (16918)	3/28/1998 9:20:00 AM
From: ldo79	Read Replies (1) \| Respond to of 95453

Horizon Offshore Contractors, Inc. horizonoffshore.com Regards.

To: SJS who wrote (16918)	3/30/1998 6:00:00 PM
From: ldo79	Respond to of 95453

HOFF Article from GOM Newsletter: "Horizon plans IPO, fleet expansion and upgrades Horizon Offshore is planning major expansions with proceeds from an upcoming initial public offering.ÿ The IPO, which will take place in early April, will give Horizon momentum as it proceeds with upgrades on several vessels it operates, acquires a diving support vessel and builds a new derrick barge.ÿ Horizon plans an initial public offering of 5 million shares of common stock at $12 to $14 per share.ÿ Horizon will use the expected net proceeds of between $60 million and $70 million to fund its expansion plans. The IPO is the continuation of Horizon's rapid growth over the last year.ÿ Horizon, primarily a U.S. Gulf shallow-to-intermediate water depth pipelay contractor, was formed from the remains of HLS Offshore in early 1997.ÿ In late 1997, Horizon entered into a strategic business alliance with Norway's Det Sondenfjelds-Norske Dampskibsselskab (DSND).ÿ As part of that alliance, DSND acquired a 30 percent stake in Horizon and agreed to sell Horizon the dynamically-positioned diving support vessel DSND STEPHANITURM for $17.5 million.ÿ The two companies then formed a joint venture company, which is owned 30 percent by Horizon and 70 percent by DSND, to pursue deepwater pipelaying operations in the U.S. Gulf of Mexico as well as offshore Mexico, Canada and in the Caribbean.ÿ DSND has chartered a reel pipelay vessel that is under construction in Europe.ÿ The dynamically-positioned vessel will be delivered in the third quarter of 1999 and will be available for charter by the DSND/Horizonÿ joint venture at $75,000 per day.ÿ The vessel is expected to be capable of installing up to 10-inch dia. pipelines in up to 6,000 feet waters. Horizon plans to build a derrick barge based on an existing hull, PACIFIC HORIZON.ÿ The new barge will feature an 800-ton capacity crane and could be ready for service in late 1998.ÿ Horizon has not yet selected a shipyard to build the vessel.ÿ A portion of the IPO proceeds will be used to fund the $17.5 million acquisition of the DSND STEPHANITURM and the $14 million construction of the PACIFIC HORIZON.ÿ The proceeds also will be used to repay all of the outstanding debt owed to principal stockholders and approximately $5.5 million to repay a portion of outstanding debt under its credit facility. After Horizon takes delivery of the DSND STEPHANITURM, it plans to proceed with a $2 million upgrade project that will enable the vessel to lay coiled-line pipe in addition to supporting Horizon's conventional pipelay vessels.ÿ Four of Horizon's current fleet of seven pipelay/bury vessels are operational.ÿ The remaining three are being upgraded and will be ready for service in the second and third quarters of this year." Regards.