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: waverider who wrote (12182)	2/19/1998 10:57:00 PM
From: Czechsinthemail	Read Replies (2) of 95453

Some info on CDG from Lehman: "Despite talks of rate cuts and concessions, Cliffs continues to realize modest dayrate increases and has good visibility for 1998. Its operations mix is split 60% oil and 40% gas. Moreover, 90% of its customers are major oil companies or large independents. Currently, contracts fro Cliffs GOM jackups are 6 to 9 months compared to 3 to 6 months a year ago. It international contracts are ranging from 1 to 3 years." Projected earnings growth: 48% in 1998, 33% in 1999. Reiterating Buy rating with price target of $78. Baird

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