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The bulk of the preferred shares are held by Hicks-Muse, who recently bailed out the company. This stock is a buy and hold. It could easily double or triple in price over the next year after the deepwater discovery offshore Equatorial Guinea is brought on line in 2000. Short term the stock might pop a little later this month if the company books some E.G. reserves in 1999 or signs an FPSO contract in anticipation of production.
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