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To: Cragganmore who wrote (43015)	4/22/1999 4:22:00 PM
From: IndioBlues	Respond to of 95453

fyi... re Petronius I asked Texaco about the status of the Petronius project. I received back the following from a member of TX's Public and Government Affairs office: "In response to your e-mail query on Petronius... Texaco is continuing to address a number of issues related to Petronius. A clear path forward for the project is still being worked and, at the appropriate time, will be publicly released. We do not intend to address any details of this plan until it is completed." Thank you for writing."

To: Cragganmore who wrote (43015)	4/22/1999 4:55:00 PM
From: SliderOnTheBlack	Read Replies (3) \| Respond to of 95453

FGI - ''patterns'' ? seems to sell off prior to reporting earnings then pop Looks to be a buying opp on any more dips here potentially if the OSX remains stable like it is here.... and then a nice little trade if so inclined, for the usual ''pop'' after they report hitting the numbers - which they will. The downside - is that all this ''sustainability'' talk is leading to the reality that many of these fab/mfg companies still have good backlogs to carry through this year - but unless they get some major orders quiclkly - 2000 expectations could be worse than 1999 - the exact opposite of the drillers - who will be bringing home the bacon in 2000 imho... Personally; I'm in & out of FGI and not ''livin as large'' as I used to with it... I am just seeing the Street is focusing awfully negatively on their future backlog - its great today - but we need some orders in the next 2 quarters. I also do not think that the short covering is going to kick in until we hit $20+ fwiw ... BIG Dog - be the man on any rumblings of newbuilds, or major refurbrishment activity. You have to realize - we just saw one hell of a run in Rig building... it may take a period of ''sustainability'' (VBG) untill these companies start contracting for ''new'' Deepwater Rigs - look at the Petrobras & other cancellations. FLC may have scarred the bejabbers out of everyone for a while ??? BIG - good question for you & the ''other'' Simmons boy (VBG) - what is the next 18-24 months looking like for Deepwater Rig Construction and orders ? Is there going to be enough of a repair/refurbrishment/upgrade business to sustain the ''expected'' earnings stream for FGI & that sector ? Right now; I am a ''Born Again - profit takin E&P - Man'' - GO GAS ! ...still holding PGO large, and just small positions in other OSX stocks - HOFF is the only non-E&P I've bought of late - it's fundamentals when compared to its competitor GLBL (whom I love - but not here $) is at an extroidinary discount and it has superior growth in both top & bottomlines to GLBL - a true sleeper stock.... the Street will discover HOFF - it may take a while. Mgmt has been acquiring assets very intelligently. - Michael's TCMS is still cheap, OMNI is in a coma- but will wake up, it's bottom is certainly holding - it would be one to pounce on the millisecond that earnings come out...I agree with some here - PGO is ''the'' buy in the OSX and I would hold Big Bull style to $26 as my target ...by Xmas ? - now if it pops to $22 in a month - bye bye however...(VBG). and don't forget young Theodore's - WEL a nice little sleeper as well and isn't it now WEL.com Teddy ? (VBG). ? Another nice fundamental value stock with a great balance sheet, improving backlog ! and buying back stock is - WG. Also, BWG bought Kvaerner today - a great longterm play is BWG - I want a dip and I'm back in - a good 2-3 year hold type of company. PS - BIG BULL - good to have your thin skinned Butt back here (VBG) by the way - so what is your # 1 buy here & why big guy ? PS Big Dog - anyone, what is RIG's Norwegian trading symbol ? - thanks.

To: Cragganmore who wrote (43015)	4/22/1999 5:41:00 PM
From: Gary Burton	Read Replies (1) \| Respond to of 95453

re FGI from EW perspective--Crag, EW doesn't work as well with small float relatively illiquid stocks...Having said that, my best guess is that it is in a wave 4 triangle, prior to going to another new high for the move in Wave 5--target 19-21ish. Wave 4's are often complex back and forth tussels. EW types often say when you don't know where you are, after a rise, you're likely in a 4 where a lot of churning goes on..If a triangle(a-b-c-d-e), it has done the 'a' and 'b' and may print roughly 14.50 for 'c' then up again for 'd' then down a bit for 'e'--followed by a thrust up to a new high for 5...If FGI prints above 17.13 tomorrow/Monday however it is then in 5 already...My trading sofware is showing a target price resistance area in the 19-21 area..Anything near 19 would do...That's about the best I can do here, other than to say the OSX needs a temporary rest soon. good luck