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

To: Czechsinthemail who wrote (23861)	6/11/1998 5:18:00 PM
From: Czechsinthemail	Read Replies (2) \| Respond to of 95453

TransCoastal Purchases Barge for Pipeline Burial HOUSTON--(BUSINESS WIRE)--June 11, 1998--TransCoastal Marine Services Inc. (Nasdaq:TCMS - news) has significantly expanded its pipeline burial capabilities with the acquisition of the Bury Barge 356 from J. Ray McDermott Holdings Inc. The barge can lower pipe as large as 60 inches in diameter as much as 16 feet below the seabed in water depths up to 260 feet. The vessel, which uses eight-point mooring, will be ready for service by September. ''The companies that TransCoastal acquired in 1997 collectively ranked among the largest providers of pipeline burial services in the Gulf of Mexico without a single barge built specifically for that purpose,'' said Bill E. Stallworth, chairman and CEO of TransCoastal. ''Not only does the 'Bury Barge 356' represent a significant addition to our capacity to perform pipeline burial work, it also adds flexibility in the utilization of other vessels in our fleet.'' TransCoastal Marine Services Inc., headquartered in Houston, is a marine construction company. Its services include pipeline installation and repair, primarily in the transition zone and shallow-water regions along the U.S. Gulf Coast. For all water depths, the company performs hydrostatic testing and commissioning of pipelines, plus fabrication and refurbishment of offshore drilling rigs, barge drilling rigs and structural components of fixed platforms. ------------------------------------------------------------------------ Contact: TransCoast Marine Serivices Inc., Houston Johnnie W. Domingue, 713/787-1375

To: Czechsinthemail who wrote (23861)	6/11/1998 6:08:00 PM
From: SliderOnTheBlack	Read Replies (3) \| Respond to of 95453

Baird; I love TCMS, however I have an eerie feeling that there may be something in the ''woodpile''. Cancelled contracts, something financial...? I can' t help but feel that the 4-5 TCMS longs on this board are the only ones buying! With this growth rate, market niche, strong fundamentals of selling for below book and substantially less than 1 times sales; new barge acquisitions etc. - why hasn't someone stepped in to scoop up what literally appears to be ''THE'' bargain of the century? We have a stock that with $18 oil, conceiveably could go up 5 fold to $35 ; its selling for way, way less than 1 times sales now ! It just doesn't make sense - makes me think that the institutional guys know something is up...? However the reason I'm NOT selling is they are buying barges, making new (non-core) executive appointments etc. - none of the signs of a company that is in trouble. Bottom line; I'm holding some cash for a margin call if we see another 10% drop; as I do NOT plan on selling anything yet. I just don't see this as a good time to bail out - with the very real possibility of a positive reaction to OPEC's meeting being so close and Q2 earnings due out soon as well. I would gladly carry the margin expense for a year if this sector stays flat or within 5-8% of where we are now; the upside of just retracing to the April/May highs , let alone prior 52 week highs supports patience and a solid hold during this selloff. I think we will show a record jump in short interest in the oil sector when numbers come out. If TCMS has a decent Q2 - I'm buying all I can, as I see no stock or company with greater upside as a percentage return on investment in the oil sector. PS - I now think EVI is the ultimate no-brainer at sub $40,- down 10% in one day !?!? - this is ludicrous... I wish I had more money - If I could ''trade'' individual stocks within my 401K - I'd buy all the EVI I could.