Strictly: Drilling and oil-field services Message Board

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Gold/Mining/Energy : Strictly: Drilling and oil-field services

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To: Velocipher. who wrote (2572)	10/29/1997 10:12:00 PM
From: Lucretius	Read Replies (1) of 95453

Explain NE "not acting very well"?? Who is selling consisently??? There are no large blocks on the sell side. In fact, the last few days have seen large blocks on the buy side including Monday of all days-the stock actually upticked mid-day as an order of 100,000 was crossed by Goldman Sachs. The stock is $3 off its all-time high after the rest of the mkt got obliterated on Monday. I'd say it has held up fairly well as it remains $2 to $3 above GLM (a stock that it lagged by up to $2 all of last year.) Now, I'll admit I haven't seen anybody estimating 4.00 for '98, but I have seen $3 to 3.5 for '99 which many are calling "very conservative." The growth in earnings for this stock will come from in 4th qtr '97, 1st qtr '98, 4th qtr '98, and 4th qtr '99 as new rigs come on line and K's roll over. -Lucretius

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