Waiting for the big Kahuna Message Board

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Strategies & Market Trends : Waiting for the big Kahuna

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To: James F. Hopkins who wrote (14967)	3/13/1998 11:42:00 AM
From: Michael	Read Replies (1) of 94695

"stay out of the oil sector" I agree. It seems the direction for oil itself will be down for a while yet. However against that the exploration side of the business seems to be booming. I have friends in the business here, some on the oil rig refurbishment side, who say they are busier than they have been in years. Their order book is full for through to 2001. Another on the exploratioin side say his company have been having problems for months now due to a shortage of rigs available for contract. The price of drillers like GLM and RIG have made some nice moves recently. They are announcing contracts at higher rates and covering longer periods. I seem to remember you've mentioned before that you also work in this industry, so I'd be grateful for your insight. Regards Michael

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