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: debra vogt who wrote (5762)	12/19/1997 7:01:00 PM
From: Flan	Read Replies (1) of 95453

In talking with Doug Robinson the CEO of computalog today he said that 50% of the contracts signed by drillers like PDS are longer term contracts so the E&P companies are going to drill no matter the price of crude. I think the service sector is going to deliver some great numbers in January and maybe some people will move back into this sector but what is somewhat disturbing is the fact that there has been a significant rotation out of this group it is not just profit taking the volume has been statistically significant and I have not seen any base forming - at least in my stocks which continue to hit 52 week lows. PDS is now trading at 7 p/e to next years numbers obviously someone is betting those numbers are not possible - hard to believe the company just reported .75 vs .34 (CN) and the stock subsequently dropped an additional $3.00 Going to drink a few beers pies tonight and try and forget about the last month.

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