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: waverider who wrote (22744)	5/27/1998 9:45:00 AM
From: Wayne Olive	Read Replies (4) of 95453

>> And Wayne, if your listening, you can add this one to the list of gloomster posts that are filling the holes here lately. << HydroC DiamondMan.. You are right to wait for the bottom and the opportunity pick up some jewels on the rise.. I've got my stash aside and waiting for bargains since I sold on the pop from news of the OPEC production/reduction agreement around two months ago (March 23) I think. The time comes closer as the sector gets bashed by the weakness of crude prices, with continued high inventory levels. I would buy only those that are the best in their areas.. those with long term contracts/backlogs unaffected by crude fluctuations, and RIG and FGII come to mind. I also have liked NE for a couple of years as they were building new deepwater capacity that will come on stream late this year and next, adding rev's and boosting the bottom line.. I wonder if anyone really thinks that OPEC will be able to hold the line and cause production/reductions..? I didn't before, bet my money that way. Wayne

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