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To: marc chatman who wrote (27566)	8/12/1998 9:23:00 AM
From: Captain James T. Kirk	Respond to of 95453

Wednesday August 12 8:18 AM EDT Iraq would reject 'partial solutions' - daily By Hassan Hafidh BAGHDAD (Reuters) - An Iraqi newspaper said Wednesday that Baghdad would reject any proposals for ''partial solutions'' to its standoff with U.N. weapons inspectors that might be brought by the U.N. special envoy to Iraq. Iraq's most influential newspaper Babel said Baghdad would not negotiate an agreement with the United Nations unless the world body lifted its sweeping trade sanctions and closed all files on weapons of mass destruction. Prakash Shah, special envoy of U.N. Secretary-General Kofi Annan to Iraq, is due in Baghdad on Thursday carrying a ''very firm message'' to Iraqi officials urging them to resume cooperation with the weapons inspectors of the U.N. Special Commission (UNSCOM), suspended a week ago. ''The situation is no more allowing bargaining and partial solutions after the Special Commission has practiced all means of procrastination and blackmail in order to prolong the embargo,'' Babel, owned by President Saddam Hussein's eldest son Uday, said. ''Iraq will listen to Mr Prakash Shah..., but it would not negotiate any agreement before paragraph 22 of the U.N. resolution 687 is implemented immediately and all disarmament files are closed,'' it added. Article 22 calls for lifting the embargo on Iraq's oil exports imposed eight years ago as a punishment for Iraq's invasion of Kuwait. Annan said on Monday that Shah would go back to Iraq ''with a very firm message urging the Iraqis to change their position.'' The 58-year-old Indian diplomat was appointed by Annan in March to supervise the agreement the U.N. chief had reached with Iraq in February following a crisis over inspection of so-called Iraqi presidential sites. Babel said Baghdad was keen to implement that agreement and Annan should show the same keenness to heed Iraq's legitimate rights. Last week Iraq announced that it was suspending cooperation with UNSCOM unless it was radically restructured, a move the Security Council called ''totally unacceptable.'' UNSCOM halted arms inspections of new sites in Iraq on Sunday, but U.N. experts will continue to monitor sites already identified by inspectors looking for evidence of prohibited weapons. The current standoff began when talks between UNSCOM chairman Richard Butler and Iraqi Deputy Prime Minister Tareq Aziz broke down last week. Butler refused to comply with a demand by Aziz to declare that all Iraq's weapons of mass destruction had now been accounted for. This would open the way for the Security Council to lift the sanctions slapped on Iraq after its 1990 invasion of Kuwait.

To: marc chatman who wrote (27566)	8/12/1998 9:25:00 AM
From: Captain James T. Kirk	Read Replies (1) \| Respond to of 95453

Wednesday August 12 6:56 AM EDT Iraq Wants U.N. Sanctions Lifted LEON BARKHO Associated Press Writer BAGHDAD, Iraq (AP) - In its first response to a special U.N. request to cooperate, Iraq said today that lifting sanctions is the only way to defuse the dispute over weapons inspections. The declaration appeared in a statement published in the influential newspaper Babil, run by President Saddam Hussein's son Odai. The newspaper often is used to express the government's views. It was the first Iraqi response to U.N. Secretary-General Kofi Annan's dispatch of a special envoy to Baghdad with a message asking Iraqi leaders to cooperate in a comprehensive review of weapons inspections and sanctions. The U.N. Security Council imposed sanctions on Iraq after its 1990 invasion of Kuwait, which sparked the Gulf War. The council has said that the sanctions, which bar air travel and most sales of oil, Iraq's economic mainstay, will not be lifted until inspectors certify that Iraq has eliminated its weapons of mass destruction, as called for in U.N. resolutions. The front-page editorial in Babil said Iraq appreciates Annan's good will in seeking a solution. But the paper added that Iraq ''also hopes that he will understand that the situation no longer bears more partial compromises and settlements.'' Babil said Baghdad would welcome special envoy Prakash Shah but that he will find ''on both public and official levels a determination by Iraq to obtain all its legitimate rights, firstly the immediate implementation of paragraph 22 of (U.N.) resolution 687.'' The paragraph calls for the lifting of trade sanctions on Iraq once it completes the elimination of its weapons of mass destruction. Babil said Iraq also will insist on the closure of various weapons files related to disarmament. ''This the least Iraq can accept before embarking on a new agreement or settlement,'' it said. Annan proposed the review of weapons inspections on Monday after Iraq last week declared it would no longer cooperate with U.N. inspectors investigating potential arms caches in the country. He urged the government to show common sense and renew cooperation with inspectors, and promised in return that the United Nations would treat Iraqis with fairness. Shah is scheduled to arrive in Iraq on Thursday.

To: marc chatman who wrote (27566)	8/12/1998 10:30:00 AM
From: SliderOnTheBlack	Read Replies (2) \| Respond to of 95453

marc; ...RE: FGII ----gotta like it today ! I bought FGII yesterday because of the overall sector establishing a double bottom off of low volume. Given; FGII did have huge volume, but the sector did not. I have kept telling people that FGII is unique that due to many people holding from the original IPO (funds included) that they were still holding a ''profit'' and finally sold at a level that the ''pain'' was inflicted. - other patch stocks went through this long ago - falling below 52 week lows all ready... The double bottom was not my personal indicator - I was willing to buy on pure value; but it was THE indicator that institutional money had publically stated that THEY were waiting for. The biggest factor to sector rotation ''right now-right here'' is NOT crude oil ! - if it was why are we up today & why were we up friday off of NO positive crude news ? It is because of the fear that has finally overtaken the over all market. People weren't coming to the patch in mass, regardless of the prices here; untill they had a reason to - ie: a correction in the overall market. FGII at $15 has twice the upside as downside - this is not gambling here; this is the market daring you to act upon an extremely overweighted risk vs. reward ratio. FGII has a small chance of going to $10, but is more than twice as likely to go to $25; 2 x the upside as downside and twice as likely to move up from here rather than down - imho; I'll take those odds - given the incredible fundamentals and growth story with FGII. The ''bellweathers'' like RIG, RON, EVI, FGII and so on, are phenomenal values here - we are not dealing with tech companies where a competitors new technology can make you extinct overnight... or internet stocks where there are not the fundamental earnings to support valuations, this is one of the worlds most basic industries - not going out of business any time soon. We had a free preview of how fast this is going to move - when it does finally breakout. The ''timers'' will be faced with an impossible decision - is this another ''headfake'' rally and when & where do I get on or get back off ? I say this is ''candy from a baby'' here at these price levels - selectively ! - not accross the board yet. Big names - with strong core niches are the play here now. I'd wait on land drillers (don't have any currently - love PTEN,BDI,UTI-later) and all marine/boat stocks for now... Can't make that BIG MONEY by following the crowd...no one ever has & no one ever will....(excepting 'net-nuts !)... So; what do you think of todays action ? Anyone buying, allthough yesterday was the day folks...? *** clarifying my point that crude is not the primary driver right now; the overall market correcting or the fear of it correcting is the catalyst now to move money to the oil patch. We can go 20-30% from here on this sector rotation & short covering at current crude prices. Then we will base; then as crude fundamentals improve - crude will once again become the fundamental driver for the next leg - then positive earnings and analyst upgrades will be the next driver - to where we can go to the April/May price levels (50-60% from here); then when we finally get crude to $16-17 consistantly and start getting some positive comments on the first signs of an Asian recovery - we will then be firing on all cylinders and will make the big run to prior or new highs.