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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Harold S. who wrote (45909)6/7/1999 1:23:00 AM
From: Jerry Rockwell  Read Replies (1) of 95453
 
Yes there certainly is a lot of attention to the 700. Of course, 300+ million is difficult to ignore as lost (guaranteed) income. It's not to say it will never work. Most likely it would probably just work for Exxon at a lower rate.

But,

Interesting article in the New Orleans Sunday money section of May 16th discussed the apparent comeback of the oil industry.

Good part of the article mentioned that the companies oriented around Natural Gas would be especially successful since we are more dependent on our own resources for that than abroad. 25% of our daily gas needs come from the Shallow waters of the Gulf. Much of the gas production has been shut in during the last belt tightening.

"As a result, many expect shallow-water oriented oilfield service companies will be among the first to recover. ...... expects strong stock performances from a number of companies that supply rigs and rig personnel to this sector, including Rowan Companies Inc., Marine Drilling Companies Inc. and Ensco International Inc.

MRL's strong point is in their shallow water jack ups.

Really I don't see how you can go wrong here. It's just a matter of how long it takes to happen. What if it takes 3 years to get back to 30.

Let's see that's still more than 30% compound annual return. Not a .com but I feel MRL could make it.

Better than bonds. Just a little. I think it's a good company.

Hope I'm right. Trying to ignore the short term and hoping the price holds along with a world recovery. Gotta have that oil.

Regards,

Rocky
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