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

To: Platter who wrote (33363)	12/22/1998 5:04:00 PM
From: VLAD	Read Replies (2) \| Respond to of 95453

Platter, A few points regarding this cold snap. Natural gas is in short supply in the Northwestern US as reported earlier. FLC which has taken a pounding lately now owns all 12 of CDG's shallow water rigs in the Gulf. When CDG was in business all these rigs were drilling for gas not oil. I think that this cold weather is a big plus for FLC as its shallow water sector is currently its weak point. Did anyone watch FLC trade today? I knew that the specialist would drop it below 7 to suck up all the stop sells only to run it back up to 7 1/4 at the close. Looks like Moodys will assess exactly what the story is with the Jack Bates rig. If the story is not bad I think we will see a rapid surge upwards toward 10. I think FLC will soon be releasing more detailed info regarding this situation as it seems that there is way too much focus on but one out of Eighty something rigs they own. Vlad PS I inherited FLC from being a CDG shareholder so I know nothing about their managements reputation. Can someone enlighten me?