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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: ron peterson who wrote (39861)3/13/1999 9:58:00 PM
From: John Carpenter  Read Replies (2) of 95453
 
The latest press release mentioned "delays in South American
sales activity" and "downward inventory re-valuations in
the aviation unit" As you know, OMNI is in the tough
position of providing services for ONSHORE seismic data
as well as marsh and shallow water services. It seems that
they're now cutting costs ruthlessly. They're currently
losing money and their revenues are deteriorating.

My 2 cents is that the major oil companies will continue
to develop huge deepwater elephant fields. I'm not convinced
that the future demand for OMNI's services will be as robust
however.
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