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: Douglas V. Fant who wrote (28096)	8/21/1998 8:48:00 AM
From: JZGalt	Read Replies (2) of 95453

Doug, you are correct that taking one news item and assuming a trend is dangerous. The inference is that they were willing to gamble that there would be rig availability when they decided to continue their search however. It might not have anything to do with the rice of oil, but it does indicate (to me) that there might be some softening developing in the market for the deepest rigs also. Just a thought. Sice I;ve been long some of these stocks since March, you might view my "expertise" with a hefty grain of salt. Right now, this sector is not appealing beyond my current holdings.

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