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: Czechsinthemail who wrote (14096)	3/8/1998 5:22:00 PM
From: Thean	Read Replies (1) of 95453

Bad news - Saudi will not attend the March 16 OPEC meeting. Story out at Bloomberg: bloomberg.com@@imLRvgYAtoEtBzKY/energy/nrg2/topnew/topnew_front.html Let's see how Simex crude does tonight. Regardless, the negatives (bad TA, crude, OSX, overall market) overwhelm the positives of owning the driller stock short term. The only two positives are the merger/takeover speculation and the GOM leasesales. But merger speculation will die down quicly if nothing materialize for MDCO by tomorrow. The only hope is GOM leasesales exceeded expectation like the last two years. Anyone has any estimate of the kind of resonse this leasesale is going to get? Industry Insiders, especially those who are actually doing the bidding - what do you think?

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