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: Ken Robbins who wrote ()	3/3/1998 11:04:00 PM
From: Big Dog	Read Replies (5) of 95453

Just who is this Pussy Galore poster? I think I should personally handle this assignment -- covert of course. Steve -- I am all ears (eyes) for some covered call ideas. Any good ones to do for March expiration? Saw the EVI March 55's at about 1 1/4. That may not be bad...especially when EVI bounces up another point or so tmw and the options go to 2. That would be 2-3 points on the stock and 2 points for the call over 13 trading days. Not bad bananas. I am waiting to write some calls on MDCO and MIND. I want to write 25's on both of them, but not until the stock is about 21-22'ish. May get that chance soon, but may have to go out another month. Watcha think? FYI(All)-- I am now developing a system whereby oil companies that have rigs under long-term contracts are able to "farm out" the rig(s) during time periods where they don't have work for the rig. This can occasionally occur when the drilling of wells don't go exactly as planned -- maybe some dry holes or other unexpected things that can disrupt a program. This is a common practice in the North Sea market, but will become more needed worldwide as these rigs start coming out of shipyards with 3-5 year contracts. This will help the oil companies be more comfortable with term contracts if they know there is a somewhat liquid market for sub-letting these rigs. And oil companies that may only have a 3-6 month need for a sophisticated drilling rig can obtain the services of same without having to take one on for 3-5 years. Lots of other benefits with such a system. Drilling contractors may not be thrilled, but maybe helping the oil companies be more comfortable with long-term contracts will help them too (the drillers).

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