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: Judy who wrote (15986)	3/22/1998 10:45:00 PM
From: Teddy	Read Replies (1) of 95453

Hi Judy, nice to have a lurker post. I'm thinking that the next couple of days should be fun with shorts covering and MoMo jumping on board, but more importantly, i think it should be the end of the doom and gloom stuff we have been hearing. I don't know how high oil will go, but i think we can say it is done going down. The GOM lease sale was better than expected, so we can expect exploration to continue for a couple more years. Even when oil prices were crashing, Drillers refused to cut dayrates so we know they aren't going to cut them now. Offshore Rig utilization is actually higher than a year ago, so the fall of oil prices actually had zero impact on our companies. The only sad part is once we get used to our stocks going up day after day, what will talk about?

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