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: Robert Floyd who wrote (12840)	2/25/1998 6:38:00 PM
From: Teddy	Read Replies (2) of 95453

Robert, i never heard of TCMS. Says they do "pipeline installation and repair; hydrostatic testing and commissioning of pipelines; and fabrication and refurbishment of offshore drilling rigs, barge drilling rigs and structural components of fixed platforms." So what is this, like the shallow Gulf verson of FGII and UFAB? Please tell me more (i put it on the list of stocks that next year i will wish that i had bought). In other Oil news (from The Wall Street Urinal): ENERGY: Crude oil contract gained some ground Wednesday at the New York Mercantile Exchange, after bouncing off key support. The contract tested trend-line support, which extends from late October 1997, at $15.25 in the early morning. When the contract failed to push lower, investors covered their positions and the contract rallied to $15.54, or 23 cents higher, while May crude oil added 10 cents to $15.86. March heating oil climbed 0.78 cent to 43.45 cents a gallon. Traders said the contract drew support from the 2.630-million-barrel draw in distillate stocks, which include heating oil, reported in American Petroleum Institute inventory data released Tuesday evening. Meanwhile, March unleaded gasoline rose 0.01 cent to 47.55 cents a gallon. Does that mean we have reached the bottom for oil prices? My guess is that the majors will keep drilling (and leasing our rigs for wicked high rates) just in case oil price do go up someday.

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