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

To: Harold S. who wrote (33298)	12/21/1998 6:56:00 PM
From: Gary Burton	Read Replies (1) \| Respond to of 95453

Harold--Anytime one invests in a cyclical business where total liabilities are 6 times book equity (after writing off goodwill), the risk of C11 is always there. For this reason, I wouldn't touch Helix simply because of the b/s leverage. FLC for example worries some as being too debt heavy and their total liabilities are 'only' 2.3x book equity. ---when I look at HLX/s b/s I see working capital of about $122mn but this includes a c/a of 106 in 'costs and estimated earnings in excess of billings on uncompleted contracts' offset by a c/l of 93 in 'billings in excess of costs and estimated earnings on uncompleted contracts' (I presume they are different contracts). Who has a clue whether the c/a ones are valid and will pay off? ---My suspicion is that the company is not at the moment in any great danger but I must tell you that if it were me I would take the capital loss on this one tomorrow and immediately turn around and buy another deeply depressed oil services stock with a better balance sheet. You take the tax loss on one but will likely get it back when the drilling cycle turns. Yes i know that the deeply depressed debt heavy ones snap back more than others but one can buy solid ones with much less risk that should at least double in 12months--PGO as just one comes to mind. there are many others, all with total liabilities much less than 6x equity!good luck

To: Harold S. who wrote (33298)	12/22/1998 2:07:00 AM
From: Fredman	Respond to of 95453

all i can say is, i trust VERY LITTLE of what i hear on ANY YAHOO! thread about ANY stock. I cannot answer your question, but i would advise you CALL HLX and ask for Investor Relations and tell them your concerns. that is a start. then go investigate for yourself why you might think they would go under..... that's all i can tell you. Don't trust anybody's word on a website as gospel - go DD yourself.

To: Harold S. who wrote (33298)	12/22/1998 11:36:00 AM
From: Mike from La.	Respond to of 95453

HLX has had a fairly steady stream of announcements in the New Orleans news about non-oil services related contracts they have been receiving. They are building patrol boats for both the US and foreign governments, and just announced a contract of some very large high speed ferrys for an overseas customer. They seem to be getting a good deal of business. I suspect someone is playing games with rumors. Usually happens right before a favorable announcement. Mike from La.