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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Chas who wrote (25972)7/19/1998 2:49:00 PM
From: Chuzzlewit  Read Replies (2) of 95453
 
Chas, perhaps I'm a cockeyed optimist (as the song goes), or maybe I'm stubborn beyond reason, but I think this sector will generate obscene returns to patient investors.

Frankly, when I invested in the sector I thought that the major danger was oversupply of rigs as a result of aggressive building, But the softening of dayrates has mitigated that fear. So, the way I look at it, this period allows various highly leveraged companies to clean up their balance sheets (because most of them are making very good money), which will give them the financial muscle they need to capitalize on what I believe will be an almost unbelievable increase in drilling activity.

TTFN,
CTC
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