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

To: marc chatman who wrote (41775)	4/7/1999 3:37:00 PM
From: still learning	Read Replies (1) \| Respond to of 95453

Not to put a god face on it, bit it could also mean two factions have formed -- one that wants to be acquired and another that doesn't. Just an example of how it could concievably go either way. that said, it's probably not good news.

To: marc chatman who wrote (41775)	4/7/1999 3:44:00 PM
From: Ditchdigger	Respond to of 95453

FLC News,,I think it will be good for the company..Time for new blood (relatively new<g>) Plus this should make Razor happy<vvbg>..DD "I believe R&B Falcon is well positioned to weather any prolonged downturn in drilling activity and take advantage of improving industry fundamentals. " from the release..

To: marc chatman who wrote (41775)	4/7/1999 4:31:00 PM
From: IndioBlues	Respond to of 95453

Don't be so sure the FLC announcement is bad news... Hey I am wrong at least as often as I'm right in the patch, but I doubled down at 6 3/4 today. A company can't have two CEO's after all. And what better way to respond to consolidation among the majors than some consolidation among some of the top tier drillers? I am betting FLC is looking to partner up. Even with all the debt, staggering debt, the company seem pretty well positioned (meaning idle rigs. I know -- you can look at it that way and it ain't good) to catch an upturn in day rates. The Millenium rigs HAVE to find work somewhere don't they <g>?? Who knows... but it is a cheap play and good risk/reward like Slider talks about.

To: marc chatman who wrote (41775)	4/7/1999 6:56:00 PM
From: dfloydr	Respond to of 95453

<<Webster is resigning>> & <<In satisfaction of his current employment contract with the Company, the board of directors also approved a settlement package pursuant to which Mr. Webster will receive a combination of option and cash compensation, together with continuation of certain benefits for an additional three years. The Company plans to enter into a consulting arrangement with Mr. Webster.>> Looks to me like he is getting moved upstairs or there are personal/health considerations involved. You do not buy out a guys contract at those prices unless you have a good reason to move him up/out of the way. Besides, he is quite right: with the billion dollar bond deal in the bag it is as good a time as any to make any moves.