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: Rose who wrote (27365)	8/8/1998 1:39:00 AM
From: James F. Hopkins	Read Replies (1) of 95453

Rose; The offshore oil field has been my life for over 20 years. I've seen them come and go twice, and I can't count how many small companies went bankrupt, or chapter 11, the drillers and service people get killed the worse if the oil glut stays, and if production is cut to reduce the glut that makes things even worse down the road. Many of the BIG names you see today are companies that went to nothing at one time, when the banks got through with them the stock holders got zero. I would not touch this sector with a ten foot pole until I saw Asia getting on it's feet, of all sectors that Asia will effect this one is the worst it just hasn't come home yet. republic.net

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