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

To: Big Dog who wrote (47187)	7/1/1999 1:07:00 PM
From: upanddown	Respond to of 95453

Big The Caymans thing may have had something to do with yesterdays action but it sure looked like it was reacting to this statement... ''It will be somewhere around a buck and a half,'' Transocean President and Chief Operating Officer Dennis Heagney told reporters at an energy conference in Houston. Consensus was 1.70 (which could be defined as "somewhere around a buck and a half"). The guy knows a lot more than we do and is certainly entitled to his opinion, but is it more than opinion? Does he know what oil will average in calendar 2000 or what RIG utilization and day rates will be or what capex budgets will be or when the drillships under construction will be working ? Too unpredictable at this point in time for that kind of offhand statement. RIG totally de-coupled from the OSX after statement was released. John