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

To: Rose who wrote (46980)	6/27/1999 10:32:00 AM
From: sportsman	Respond to of 95453

Rose, I am also very positive on MRL. SSB states that every $1,000 increase in dayrates for their jackups will add .11 to their earnings. The 500 should be on contract very soon at a dayrate around 160K. SSB also states that the 700 will be ready on time (should be delivered in the next 10 days). I have read Esso is training the crew right now. If the 700 contract stands as is, MRL is a steal at these levels IMO. If not, it is still a very compelling longterm buy. The jackups will pick up later this year. It is very easy to see how earnings could really fly! Sportsman ps. I'm just as positive on RIG with the 3 new drillships contracted at around $600K a day coming online in then next year.