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To: Think4Yourself who wrote (45361)	5/24/1999 4:34:00 PM
From: Big Dog	Respond to of 95453

FGI has plenty of work...for now. The biggest problem for FGI is replacing backlog with new work. Can they do it? Will they do it? big atoffshore.com

To: Think4Yourself who wrote (45361)	5/24/1999 4:36:00 PM
From: dmccoach	Read Replies (1) \| Respond to of 95453

re: FGI... you guys are spooking me... I own a boat load of this from last year at $12... What gives Big, is something up here???? I wanted a double before I dumped, but now...??? Dan

To: Think4Yourself who wrote (45361)	5/24/1999 5:10:00 PM
From: Wowzer	Respond to of 95453

Stock up on heating oil folks! K.L. good trade I bet you were a little nervous when it climbed to 19 today! Monday May 24, 4:08 pm Eastern Time US lawmakers fear oil,natgas firms too slow to fix Y2K By Tom Doggett WASHINGTON, May 24 (Reuters) - U.S. lawmakers said Monday they are worried oil and natural gas companies are not making enough progress to ensure their computers will keep running on New Year's Day 2000 to deliver energy smoothly. The concerns were in response to a General Accounting Office report that showed while oil and natural gas companies have made substantial progress to make sure their computers don't break down by confusing the last two ''00'' digits in 2000 as the year 1900, some risks remain. The GAO said over one-fourth of oil and natural gas firms did not expect to be Year 2000 ready until the second half of 1999 -- ''leaving little time for resolving unexpected problems.'' ''The oil and gas industry is highly automated and the task to remediate all critical systems is enormous. It appears they started too late,'' said Sen. Robert Bennett, a Utah Republican, who chairs the Senate's special committee on Year 2000 computer problems. The GAO said all phases of the petroleum production cycle -- oil and gas extraction, refining, transportation and delivery -- use control systems and equipment that are subject to Year 2000 failures. An American Petroleum Institute survey of 1,000 oil and natural gas companies showed that 94 percent of them will have their computers upgraded by Sept. 30. The report also found that energy companies are developing contingency plans independent of each other and there is no cooperative nationwide backup plan to handle gasoline shortages or oil supply disruptions. Last month, a top Energy Department official told the Senate committee that homeowners should take the precaution of filling their heating oil tanks for the upcoming winter before New Year's Day 2000 just in case computer problems disrupt petroleum supplies. ''While we see no cause for panic or alarm at this point, consumers who are dependent on oil should always be prudent in planning for their heating requirements, and should not wait until the last minute to fill their home heating oil tanks,'' said Robert Kripowicz, the department's deputy assistant for fossil energy. ''Similarly, power generators and large industrial consumers may want to purchase some additional (petroleum) inventory well in advance of the year-end as a contingency or hedge against prices,'' Kripowicz added. The GAO also said because the United States imports over half the oil it uses, the nation is vulnerable to computer breakdowns in oil production and transportation in other countries. While the domestic oil and natural gas industries are address the Year 2000 problem, the GAO said ''little is known'' about the computer readiness of foreign oil suppliers. Related News Categories: US Market New

To: Think4Yourself who wrote (45361)	5/25/1999 2:07:00 AM
From: Rainier	Read Replies (1) \| Respond to of 95453

Karen: FGI's short position concerned me while I was doing my initial DD. Slider's theory that it was a hedge seemed to make sense, and after doing more research, I became convinced this was the case. Here's a link to the post where I outlined my findings: Message 7666905 Tonight I looked up the last four months of short data to see if anything had changed, and discovered the short position has dropped considerably: Feb 99----2,862,000 Mar 99---3,021,000 Apr 99----2,745,000 May 99---2,117,000 marketguide.com This is a 20% reduction since my post, and a 30% drop from its March high. I still consider the short covering a bonus to be realized as the industry recovers. Best regards, Mike