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: Bazmataz who wrote (18387)	4/7/1998 9:26:00 PM
From: Thean	Read Replies (1) of 95453

Baz, depending on how crude is doing tomorrow, if they are up $0.30, I'm buying UTI tomorrow morning. If they are flat or down, I will wait a bit. UTI comes close to closing the trading gap between 14 3/4 to 15 1/8. That could be close enough for a gap closing argument if we reverse tomorrow. UTI has the highest beta among all the drillers and since I like to trade UTI and PTEN are just perfect for me. The natural gas price hike made no dent whatsover today. If the drillers move up and natural gas continues to trend higher, UTI should benefit as well. I belive ESV's strength is partly due to this thread and AOL's thread. A lot are seeing value in ESV and I agree. I need to spread my buying power in two drillers and I need to pick between UTI, BDI and ESV. BDI has been holding its ground at $14 1/4 - $14 1/2. So has NBR. ps: With PDE's acquisition of RIG today, I expect more acquisitions going forward in this sector. I wonder if the first order of business for the PDE management team is to redecorate RIG's main office. A fancy office can do wonders to productivity.

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