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Gold/Mining/Energy : Big Dog's Boom Boom Room

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To: jim_p who wrote (3276)	7/31/2001 8:45:17 AM
From: chowder	Read Replies (1) of 206217

Interesting comments from RIG CEO.... >> ``It appears that many of our customers aggressively spent a significant portion of their 2001 U.S. Gulf of Mexico shallow water exploration and production budgets during the first half of the year, a time when natural gas prices averaged better than $5.60 per mcf. Although additional exploration and production dollars could be forthcoming, we are at present witnessing reduced customer spending. This development is causing utilization and dayrates for shallow water drilling rigs to decline.'' << Forward earnings Gentlemen! How are OSX companies going to compare Q over Q going forward with less money being spent and lower revenues? Let's see how the OSX does today. A good API may help short term, but that's all I see, ..... short term. dabum

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