GW GREY WOLF Message Board

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Microcap & Penny Stocks : GW GREY WOLF

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To: Curtis Brown who wrote (233)	3/6/1998 4:17:00 PM
From: jim p. holcomb	Read Replies (1) of 444

Wolfers, For those of you that think the stock price @ 4 is a bargain, let me explain that the price of this stock is not so much based on earnings as it is to the price of a barrel of oil which today dipped below $15.00. I have been through the BUST of the 80's and I can guarantee that the site of a rig that is stacked on the ground is next to attending a funeral. When the price of oil goes down and stays down for an extended period of time, then the land drillers, who are so dependent on independent drillers, will be the first to stack rigs. Be cautious until OPEC finally decides to meet and raise the price of oil. I got in GW last year @2 7/8 and that was before they had a bright future. Stay closely tuned to what the price of oil is everyday and watch for leveling of day rates or stacked rigs. Jim.

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