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Gold/Mining/Energy : Games Trader -- Ignore unavailable to you. Want to Upgrade?

To: hsg who wrote (949)	7/8/1999 12:19:00 AM
From: John Paquet	Read Replies (2) \| Respond to of 1239

Goldsnow only can afford $600 Canadian to invest on SKG. Goldsnow investing on NG, OIL like HTR, VLV....and some Ameican ones.] Goldsnow investing in CTQ which is at record low, it was $5.00+ 4-5 yeas ago. Goldsnow speculating EXS and hope EXS will 1500% return. Goldsnow will have to sell his VLV and buy SKG. Yahohohohohohohohhoho!!!! &HahahahahahahaHAHAHA!!! But Obviously not, Goldsnow is a long term 34-5-6 years iINVESTOR, which I emphasized that CTQ 4-5 years ago at $5.00, today at .75-.80 areas. Sometimes long term would work umnless your 10000% times sure. Other wise it is a BLIDY luck that is all. The very old lady style will not make ones into multiple million dollars. Go figure. John Paquet

To: hsg who wrote (949)	7/8/1999 10:23:00 AM
From: goldsnow	Respond to of 1239

I am betting short term on oil drillers...long-term I think they represent an uncommon value...more like semiconductors 6 years ago

To: hsg who wrote (949)	7/12/1999 10:32:00 PM
From: goldsnow	Respond to of 1239

FOCUS-Schlumberger, Transocean create drilling giant (Adds detail on merger terms in para 3, closing stock prices in para 12, new analyst quotes in para 18) By Andrew Kelly HOUSTON , July 12 (Reuters) - Oilfield services giant Schlumberger Ltd.(NYSE:SLB - news) said on Monday it was spinning off its marine drilling business, Sedco Forex, and merging it with Transocean Offshore Inc. to create the world's biggest offshore driller. Schlumberger stockholders will own about 52 percent of the new company, which will be called Transocean Sedco Forex, and will have a stock market value of some $6.3 billion. Transocean(NYSE:RIG - news) stockholders will retain 101 million shares in their company while 109 million new shares, worth about $3.3 billion, will be issued to Schlumberger stockholders. The merged company will have a fleet of 75 offshore drilling rigs active in all major offshore oil and gas regions, including the North Sea, Gulf of Mexico, Asia, West Africa and Brazil. It will be particularly strong in deepwater drilling and will have the youngest fleet operating in that segment of the market, where some of the world's largest oil finds are being made. Schlumberger's Chief Executive Euan Baird said that spinning off the company's capital-intensive drilling business would allow Schlumberger to focus on strengthening other core services to oil and gas companies, such as seismology and well evaluation. Baird said in a conference call that Schlumberger, the world's second-largest provider of oilfield services after Halliburton Co.(NYSE:HAL - news), had initiated the merger, approaching Transocean in April and getting an immediate positive response. Transocean Sedco Forex will become the world's biggest offshore driller, overtaking Diamond Offshore Drilling Inc.(NYSE:DO - news), which has a market capitalization of $4.3 billion. Transocean said the merger would lead to a modest drop in its earnings next year, but would boost earnings in subsequent years. Schlumberger said only that Sedco Forex was expected to generate 15 percent of Schlumberger's total net income this year. The deal is the first big merger in the fragmented offshore drilling industry since a round of consolidation among major oil companies led to the formation of BP Amoco Plc (quote from Yahoo! UK & Ireland: BPA.L)(NYSE:BPA - news) last year and plans to merge Exxon Corp.(NYSE:XON - news) and Mobil Corp.(NYSE:MOB - news). Wall Street's initial response was muted but as the day wore on other offshore drilling stocks ran up gains of three to four percent on speculation that more mergers could follow. Transocean closed 81.25 cents higher at $29.8125 and Schlumberger rose 50 cents to $64.8125. Diamond Offshore was up $1.125 at $31.50, while Global Marine Inc.(NYSE:GLM - news) rose 50 cents to $16.875. Oilfield service and drilling stocks took a hammering in 1998, due to weak oil prices. They rallied strongly earlier this year in line with crude's recovery, but stock prices within the sector remain well below the highs they attained in 1997. Transocean's Chief Executive Michael Talbert, who will retain that position with Transocean Sedco Forex, said the new company's unmatched geographical reach and technical capability would make it an attractive partner for the new oil super-majors. ''They can deal with one company who can serve their needs on a global basis,'' Talbert said. Andreas Vietor, an analyst with Hanifen Imhoff Inc., said Schlumberger appeared to have pursued the merger to obtain a higher earnings multiple on Wall Street by spinning off the volatile drilling business. The deal might serve as a catalyst for further consolidation among drillers, he said, although he expected some hesitancy in the near term as companies wait to see how mergers among the oil majors would affect deepwater drilling programs. Fred Mutalibov of Southwest Securities predicted that more consolidation would indeed follow, with leading candidates, including Santa Fe International Corp.(NYSE:SDC - news), Global Marine and Marine Drilling Companies Inc.(NYSE:MRL - news). ''We believe that size and diversity requirements will push offshore drilling contractors towards significant merger and acquisition activitiy in the next two years,'' he said.