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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: marc chatman who wrote (46573)	6/17/1999 12:59:00 PM
From: upanddown	Read Replies (2) \| Respond to of 95453

Marc FLC gets a contract. DO gets a contract. RIG gets a contract. Tepid market reaction may be because dayrates appear to be approx 20 - 25% below expiring contracts though I am not sure whether you can just divide the total value by the time period to get the day rate. If so, then new deepwater contracts are around 100 grand. The positive spin would be that the drillers would not be committing long-term if they didn't think they could make decent margins but the other view could be that they just don't see deep-water rates moving higher in the next couple of years. Don't understand why FLC has the Henry Goodrich. I have that as part of RIG's fleet working in the North Sea for 120 - 125K. John biz.yahoo.com