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Gold/Mining/Energy : Trico Marine Services (TMAR) -- Ignore unavailable to you. Want to Upgrade?

To: Mark who wrote (950)	10/28/1998 5:42:00 PM
From: D.J.Smyth	Read Replies (2) \| Respond to of 1153

<<I'll bet that if they've just spent a ton of money on updating this fleet that the asset values will currently be recorded close to cost; i.e. the depreciation clocks will have been (partially) reset.......>> you're probably correct. book value should be adjusted positively to reflect upgrades. they've been upgrading long enough now. November appears to be the end of it all. they stated that US gulf competitors have a "significant aging fleet", implying, of course, that TDW's boats ( since TDW's is the largest there) isn't updating their vessels as they should. this would also imply (as it has it the past) that TMAR should NOW begin to reap the benefits of their upgraded fleet. 'show me the money' as Galt said. they've taken a completely different approach than TDW going forward.