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

To: shust who wrote (37385)	2/11/1999 7:08:00 PM
From: Elmer	Read Replies (2) \| Respond to of 95453

Shust, I would appreciate your thoughts on what you are hearing in Venezuela regarding the upcoming OPEC meeting. There have been so many conflicting comments out of there. What are you expecting. Thanks

To: shust who wrote (37385)	2/11/1999 7:27:00 PM
From: VLAD	Read Replies (2) \| Respond to of 95453

Here is another interesting piece of info on FLC: Steven Alan Webster who is the Chairman of the Board made several purchases of FLC in August and November 1998. He bought a total of 185,000 shares at an average price of $10.31/share. Currently he is looking at a paper loss of $786,000.00 on those purchases. If the Chairman of the Board starts buying large quantities of his own stock with his first purchase of 60,000 shares at over $11.00/share then either he or the Street is out of touch with what is going on inside the company. I believe he made these purchases feeling he was buying his company shares at a bargain price and was fully aware of low oil prices and the health of FLC when he made the purchases. I think the current price merely reflects the herd mentality in an out of favor sector and a lot of stop loss orders have been knocked out over the past 2 days. If it goes under 6 I'm going to be a buyer even though I have averaged down once already at 8 1/8 and my original shares were based on a CDG purchase back last year where I found myself catching the falling knife as I thought the stock looked attractive when it started to drop under 30 (CDG had a 1997 fall high of 82 and based on its FLC merged price it is now at 10.3 which is 88% below that high of 82). Currently I have a cost basis of about 13.75 which I really don't think is an unreasonable price for this stock. But when the price is at 6, 13.75 looks like a long ways away. I have a buy low and sell high strategy and I'll be damned if I sell this stock for one penny less than my cost basis. Anyone who puts in any stop orders below today's close is just asking to have their shares stolen by the specialist at a lower price before they run the price back up over 8.