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

To: Crimson Ghost who wrote (36323)	1/30/1999 4:46:00 PM
From: Big Dog	Read Replies (3) \| Respond to of 95453

Re FLC -- Keep in mind they have already filed a shelf registration for 300 mm in preferred. And they are going to need about 500 mm more cashola from some source to finance their capital commitments due to cost overruns, slow down of earnings (internally generated cash), and the 86 mm cost of cancellation of the Peregrine 6 and 8 projects. As Slider would say, all be it in a couple of pages and not a couple of sentences -- FLC's aggressive use of debt may backfire if USS OIL PRICE rescue boat don't come soon...tick tick tick. On the otherhand, DO is sitting pretty...bought in 3.5 million shares 4Q 98 and is likely to buy more. They will have access to close to two billion smackers (cash pile and earnings) for buying stocks or companies on the cheap. I like DO. The Tisch boys are value investors and they will start seeing some values in the patch. Bet on it. big loosbrock.com

To: Crimson Ghost who wrote (36323)	1/30/1999 5:27:00 PM
From: BigBull	Read Replies (1) \| Respond to of 95453

All: Iraq to "sharply" reduce oil export in Feb. arabicnews.com Thought you might like to know.