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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Big Dog who wrote (31054)10/23/1998 12:29:00 PM
From: dfloydr  Read Replies (2) of 95453
 
Hi Big Dog:

I have been thinking about the discrepancy between your latest view of the oil industry and the recent market uptick in various drillers and suppliers to the industry.

I wonder whether in your business you are not perhaps looking at the ground under your feet .... ie: the latest and worst day rate for the rigs your trade ... and perhaps the market is trying to look at the horizon out there six months or a year away.

I am no oil industry guru although I have had an eye on it since about 1975. Still, I remember pilots crying about the prospects for airlines about four years ago after a long string of troubles ... and they had not noticed that passengers like me were getting more and more crowded in the back of the plane.

This does not mean that the market is right, just that it has a different perspective from that of the day to day operator or participant.

By the way, what did you learn in Norway? ANy news on OCR?

Floyd
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