Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: SliderOnTheBlack who wrote (43164)	4/24/1999 9:10:00 AM
From: MARK BARGER	Read Replies (1) \| Respond to of 95453

My weekly post: My worst fear is FGI posting once again blow out numbers. Maybe $.55+ , BUT with a markedly decreased backlog. My feeling is that FGI could post any earnings number on Mon. but the market will be looking at the backlog number only. I am amazed that VRC's back log has deteriorated so markedly. There was talk by The Big One several weeks back that part of FGI's backlog was pending a loan approval or backing by a quasi-fed organization. Has this loan approval happened? Is there still some "qualification" of part of FGI's backlog. Also, Kudos to Big Dog for his "heavyweight" comments and quote in the FGI annual report. The Big One is quoted, "The company (FGI) has proven itself as being reliable, on time, on bufget, and customer oriented.... Future customers will be able to place work at FGI with confidence. This alone will be a strong factor in favor of FGI's getting more than its share of future rig work." Are the FGI shorts counting on an absolute dearth of rig building and maintenance for the rest of this year? While all the major OSX players are laying off, FGI has been hiring all the warm bodies they can find. FGI has shown no signs of backing off the past few quarters. Somehow I can't see FGI being an OSX fab. anomaly and bucking the decreasing backlog trend. I'm in this one up to my eyeballs around the 10-11 buck mark. I have been holding all along and can't wait to see what Holloway and the boys have to show us on Mon. Conf. call should be interesting on Tues. My other OSX holdings are FLC VRC WFT (in at 17!, yippe!) We may take a breather for a month or 2 but I still see us at OSX 100 within 6-9 months. Good luck to all! Mark

To: SliderOnTheBlack who wrote (43164)	4/24/1999 9:20:00 AM
From: BigBull	Read Replies (2) \| Respond to of 95453

The Color of Money The highest compliment I can pay this board is that it is helping me make money - BIG TIME. This board has sharpened my trading/investing techniques to a fine point. I've learned more about the oil business in the last six months than I ever thought i wanted to know. Still got a long long way to go. I want to thank everyone on this board from the bottom of my heart for their insight and contributions. I will continue to stay with this sector for the forseeable future as OS stocks can make you a bloody fortune on the way up, and an even bigger one on the way down. Thank you all, even the Bears, cause they force me to be really really sure of what I'm thinking and saying.

To: SliderOnTheBlack who wrote (43164)	4/24/1999 10:22:00 AM
From: BigBull	Respond to of 95453

VRC - PARTS - E&P A simple minded argument. Slider, I used to love buying VRC when they were bleeding red ink - that is - losing money hand over fist. I intend to take advantage of "Wall Streets" incredible myopia regarding this company's prospects. My simple minded argument in favor of VRC. 1. E&P make big bucks pumping oil at $18 a barrel. 2. To make that money they need to pump. 3. To pump their rigs and systems need to be in good working order. 4. To be in good working order they need parts. 5. VRC makes parts. OK so their backlog is disappearing fast. That doesn't freak me out so much because I used to buy this company when it was much smaller and losing money at a cyclical bottom. That their backlog is disappearing fast is not surprising to me considering we've just passed through one of the worst, if not THE worst recessions in oil patch history. The fact that they even have a backlog is testament to the quality of their management and products. What is surprising to me is folks seem to be totally discounting the speed and force with oil has rallied back to it's statistical mean price range. Is not "the lid off"? So I guess the my questions to you and the thread are? What percentage of the rigs out there pumping oil at 18 bbl are so brand new that they won't need parts? Is VRC a company that you want to own only in the latter parts of the oil cycle? Anyway, I just can't see VRC not being a part of my OS portfolio and am looking for any excuse to buy it. I mean, remember the GLM Ceo's death spiral requiem of only a quarter ago? He's singing a different tune now, eh what? The GLM stock price is also demonstrably higher.

To: SliderOnTheBlack who wrote (43164)	4/24/1999 12:43:00 PM
From: Ahmed Elneweihi	Read Replies (2) \| Respond to of 95453

Slider, I have some questions for you. What do you know about PGO fundamentals that make you so bullish on it? I bought it last week, when Garry brought it to my attention because of what I saw as a technical breakout of a bottom H&S formation, but would be nice to support that by some fundamentals. As for the osx index, is it a simple average of the price of its components or is it that some stocks such as BHI, SLB and HAL have more weight than others because of their higher capitalization. The reason behind my question is that I notice a big disparity between osx components. The heavy weight are above their Nov 98 high, some are close and some are no anywhere near the NOV high. If there is a correction as you anticipate, do you think (from fundamental point of view)those that advanced the most will carry the brunt of the correction, even though they are obviously the street's favourites, or is the laggard who may have been just tagging along on the way up who will correct more (I am talking percentage wise here)?