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To: thomas hayden who wrote (45601)	5/28/1999 11:27:00 AM
From: SliderOnTheBlack	Read Replies (2) \| Respond to of 95453

HLX ...she's out on a date and it's midnight & she's not home yet ??? ...the Dog gets a scoop ! Now, how do you make money playing this ? No real strong call option activity in HLX today, volume off and a blow off at the open {VBG} - not a bad re-buying opp from yesterdays close, by the way... Have to think that even in a stock for stock deal that $12 is the floor for an acceptable deal for HLX. HLX longterm in the low $7's here is far from overvalued, bounced to near $12 off of Sept.'s initial blowoff last fall...insiders as mentioned earlier have bought a lot of stock at $12-14ish. I'm surprised that the press release didn't lead to a rally through $8 to $9 today ? At it's peak FGI was $35 -40 when HLX was $17-20 last April. A .66 share of FGI for each share of HLX seems reasonable and potentially acceptable to HLX; but if FGI is holding out for say .50 - indicative of the spread between the two companies at the peak last April - then I see a deal killer and possibly this is why HLX isn't moving above the mid $7's here; and this is also the reason for no real substantial call option activity, or institutional block buying.... time will tell. Looks to be a good deal for both companies. GIFI & UFAB have to be candidates for someone at these prices as well....