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

To: Wowzer who wrote (37852)	2/19/1999 4:48:00 PM
From: Gary Burton	Respond to of 95453

You may wish to consider a seismic company--either VTS ($10.06) or PGO (12.13).Both trade below book. Today, Merrill Lynch lowered their eps estimate for VTS to $1.00 for both 99 and 00 so the ML brokers got their clients to sell a few shares to a new low so that they could generate a little commission I guess. But, VTS had $3.75 in cash late last year and manageable debt. So, it's now trading down more than 80% from its 52 wk high and is now at 8x ML's new 99 estimate excluding interest income and netting out the cash from the stock price. ML's target on VTS is 'only' $15 whereas they think PGO will test 30. But, one can take all this projection stuff with a grain of salt imo-it can change on a whim. One can sleep peacefully with either.--- If I owned neither and had to choose, I'd probably opt for PGO although I suspect it will back off a bit since it gapped down on heavy volume last week and is now retracing somewhat. Gappers usually don't hit their final low on the day of the gap or next day, particularly if it is on heavy volume and is a meaningful decline. ---But, i would watch these 2 closely if i were you.