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

To: BigBull who wrote (42359)	4/16/1999 11:03:00 AM
From: Linkdog	Read Replies (2) \| Respond to of 95453

BigBull - Looking good on FLC. Printed 9 3/16 do far. Nice move up. I would like to know who bought the deal and I hope word leaks out. It looks like a good deal to me as both sides win. FLC has "free use" of $300 million for 5 years. We shouldn't overlook the option value bought by FLC just as we shouldn't overlook the option value purchased by the preferred shareholder. If things work out as planned by management the effect of the $300 million preferred is minimal. If they don't well FLC got $300 million more to blow than they had before. Interested to see how this plays out....