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

To: IndioBlues who wrote (45020)	5/19/1999 2:23:00 PM
From: Linkdog	Read Replies (2) \| Respond to of 95453

I guess up against a wall is a relative term. I think that those of us who do (who are thinking about) owning FLC equity should be comforted by the fact that all of this news has been priced in by institutions who have recently committed $1.3 billion of capital to FLC. That kind of money doesn't change hands without substantial DD (especially a $300 million equity investment). Additionally, FLC is actively considering acquisition proposals and the market is turning. I believe that the worst is behind and that one way or another (improving market conditions or buyout), current holders will be rewarded for the risk they have shouldered having lived through the newbuild program during the downturn. After all, I know, you know and everyone else involved knows that these assets will appreciate substantially in value in normal drilling market conditions.