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: Lazlo Pierce who wrote (16551)	3/26/1998 7:28:00 AM
From: John Guild	Read Replies (1) of 95453

RE: Looking for Hidden Oil-Service "Gems" >Nevertheless, this relatively unknown firm is about to roll out an "underbalanced drilling" service that -- if successful -- could boost earnings significantly. Should the group move, Tesco will undoubtedly go with it, but the new service could offer downside protection -- and even some upside potential< Funny! Don't you just love these financial writers who know just enough about the drilling industry to be dangerous. Anyone buying Tesco because its going to start offering under balance drilling (UBD) services should understand that UBD has been around for years. Several of the major service companies offer UBD services as well as numerous boutique engineering shops. Aside from this, albeit UBD is growing, is applicable only for a small segment of the wells drilled. Tesco's 'new service' had better have something unique to offer in the way of UBD otherwise they might as well get in line with the rest of those offering UBD. On rigs I've work, the worms (inexperienced employees) always wore bright green hart-hats. These green hard-hats stood out among the experienced drillers wearing white hard-hats. That way we could keep a close eye on the worms thus avoiding worm screw-ups/accidents. It would be nice to have something equivalent for worm financial writers reporting on the petroleum sector. Maybe they could post in green lettering! john guild,, PE

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