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: Broken_Clock who wrote (20282)	4/24/1998 2:19:00 PM
From: Lucretius	Read Replies (1) of 95453

Yes (also NE has no semi's in West Africa) however, these deepwater jackups are a large part of NE's fleet. Yes, gas should help, but NE only has 5 rigs in the GOM. gas is not transported intercontinentally because of the storage exp, and the hot gas mkt is the US. Understand, I'm not saying game over for NE by ANY MEANS. I just think it may come down some. Hence, I have hedged appropriately. Additionally, you know my feelings on this mkt. A major mkt downdraft will take everything dwn initially, but the value plays will bounce back faster. -Lucretius

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