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

To: Think4Yourself who wrote (38399)	2/26/1999 2:17:00 PM
From: VLAD	Read Replies (2) \| Respond to of 95453

I was listening to the conference call last night and the sound was terrible(it sounded like listening to a bad connection on a CB radio). Anyway I didn't listen to the entire cc because the sound was so bad but from what I did remember hearing, FLC mentioned selling stock as an option but they also said that they planned on raising the rest of the needed cash through their bankers using the actual rigs being built and their drilling contracts as collateral. Correct me if I misheard this info. but they said they had no guarantee on this type of financing but they believed they would be able to obtain it. Obviosly selling corporate bonds is better than diluting shares when the stock is at an all time low. The company accountants aren't that stupid to dilute the stock if not absolutely necessary. I think the same banks that have been carrying them this far will continue to carry them through the end of this construction phase. They were able to get $400M in non secured notes back in December. I think they will be able to get further financing so long as it is secured by the very projects being financed. Let me know if I am wrong since I didn't listen to the cc all the way through.