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

To: Big Dog who wrote (33624)	12/29/1998 2:27:00 AM
From: Flan	Respond to of 95453

Big Dog - Thanks for your reply. Still curious though about why you like it so much. Yes they have 2.00 a share cash and no debt. But there are some things that concern me - Outside of a rapidly softening demand for their services - I am still troubled by the accounting fiasco last year, CFO resignantion and the I/O aggreement whereby they are locked into buying I think it was 100 million worth of equipment over the next five years (30 million in 99) So that cash cushion might be widdled down. No insider buying and severe pricing erosion which has finally surfaced in the marketplace - I would be interested to read your thoughts. Thanks Flan