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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: mc who wrote (23819)6/11/1998 1:11:00 PM
From: Wallace Rivers  Read Replies (1) of 95453
 
Pure and simple, lack of confidence and NO BUYERS. HMAR falls into a similar category with TMAR, as it derives 20% of sales from GOM, where dayrates are declining, but are not being routed, as I understand it. It, as well as virtually every other company in the E&P group, is in free fall.
If La Nina happens as some are advertising, it may be a very interesting winter for this group.
RE RIG PARTY:
As I write this I am having leftover spaghetti w/ canned sauce. Used to have much more extravagant fare, but times aren't what they were! In that spirit, I suggest we make the locale of the party Checkers or Krystal. McDonald's no doubt currently would be far too pricey!
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