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

To: Linkdog who wrote (42497)	4/17/1999 5:07:00 PM
From: SliderOnTheBlack	Read Replies (1) \| Respond to of 95453

Linkdog; ie: FLC --- is this the mermaid of the deep or what ? The stock we all love to hate, but she has so much allure - we all fall right back in love everytime we take another look...(VBG). Man; scratching my head here.... I see the not impossible $4.00 eps that FLC is very capable of producing in 18 -24 months out in a $18+ crude Oil enviroment. That is $4.00 x a historic PE of 18 = $72 per share potentially. Lets use $3.00 eps x a 15 PE as a conservative upside, that = $45 ! a 5 bagger....hmmmm, add a little margin leverage perhaps ?... quite the enticing company. Personally, I will keep trading FLC. Gotta dump here on the first hint of bad news, and gotta take profits on the spikes as well; as with FLC's volatility - there will allways be another chance for a cheap date.... The reward potential is way too high to not be a FLC owner. I would think there is no chance of BK in the next 18 months excepting something catastrophic like 2 major deepwater Rigs cancelling contracts out of the blue. So, I will be in and out of FLC, hopefully bagging some profits here and there; but this is one stock than when the actual fundamentals of rig utilization and dayrates improve - becomes a big part of the Slider Portfolio... this is perhaps the single most interesting company & stock in the patch. With all of the angles on this one - huge New-Build projects, Rig contract cancellations, Soros involved, acquisition of CDG, CEO resigning, creative financing coming out of every corporate orfice, merger-buyout rumors etc. - who in the entire world can have a ''handle'' on FLC ? ...maybe DLJ does ? - they still have it as a ''Top Pick'' - takes some guts - kudo's to the DLJ boys...unless, that is - they are underwriting lots of that FLC paper ! - nahhh, they wouldn't be playing that game would they.... PS - Tim Couch goes #1 in the NFL draft - comments ? I imagine we have a few posters who like that running back down Texas way....(VBG).