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

To: ldo79 who wrote (21689)	5/8/1998 9:27:00 AM
From: SliderOnTheBlack	Read Replies (1) \| Respond to of 95453

Global Marine - ''The Enigma'' ... Why is this the stock everyone loves to hate ? Certainly good news on the prior post of their new ''World Record'' deep water project. Luigs comments at the Offshore Technology Conference in print sure look awfully positive; in fact his comments are the most positive of any that I've seen. GLM has recontracted 22 rigs so far this year at an average increase of 30% and he makes further comments on their ''premium fleet'' and full rig utilization now and expected to continue in the future. Fundamental numbers of $1 Billion + in sales, 30% margins, 28% ROA, 49.75 ROE and its low PE have to make this a serious BUY candidate. Rumors from Business Week and other sources for a buyout may or may not materialize; irregardless the new CEO from DO has to be a positive. I don't know about others; but just when I was about ready to dump this laggard, my review prior to selling has now gotten my finger on the ''buy button'' if we see another dip today ... $23 range sure looks like an enticing buying opportunity to me. GLM is selling for about 9 times next years earnings.