Replies to post #848 on Grifco Inc (GFCI)

[10 bagger]

BBB...

You said..
"However, Warren Buffet is not all that intimate with the oil & gas industry (at least not at this level with tool companies), so he would most likely have a need to do a whole lot of DD on this one, having to rifle through the veritable tons and tons of financials that don't exist. Here is where I have an edge, because I see each of the trees, not the forest.."

You are by far the most astute resercher of O&G service companies that I have ever had the pleasure to meet...Finding GFCI was like finding a needle in a haystack and I applaud you for your instants.. LEN is out in the cold and just doesn't understand...after all he lives where the closest thing to Ngas is old people farting.. I have seen the LIGHT.. If you believe this strongly you have convinced me.. Tomorrow I plan to go out and to plant a tree in your honor.. Your BS is just the cover needed keep those trees growing...hank

[jtomm]

"Doesn't it strike anyone's fancy? Grifco was founded in 1990. As a private company, it actually passed through some of the most difficult times for oil & gas during the late 90's, when the price of oil actually slipped to an inflation-adjusted low of $13.85 (October 2005 dollars), a low such as had not been seen since 1946. It went through this certifiable drought in the business and survived. This gives a whole lot of credence to the company's unrealized worth. If it survived the gloom and doom of the 90's, just imagine (for that's only what most of you here can do) . . . just imagine how spectacularly well it will survive the boom we are in now!"

Actually, Grifco didn't survive the downturn. The company filed bankruptcy in 2001:

http://www.investorshub.com/boards/read_msg.asp?message_id=5684065