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

To: Gary Burton who wrote (47717)	7/10/1999 1:03:00 AM
From: A. Geiche	Respond to of 95453

Today, I doubled my position in SESI. I remember, there was a lot of interest on this thread to the recent aborted merger of SESI with PKD. After SESI (fortunately) got out of it, it smoothly went into a merger with the Cardinal, No.1 liftboat company in Gulf of Mexico. But unlike its previous mess with PKD, this deal is of no concern, it seems, to anyone here although it is exceptionally beneficial to SESI. SESI is poised now to become one of the major players in GOM. On July 15, there will be SESI shareholders' annual meeting and a vote on merger. It is guaranteed to be approved. AG

To: Gary Burton who wrote (47717)	7/12/1999 9:09:00 AM
From: BigBull	Respond to of 95453

Gary, I also suspect it may a bear raid on oil that does it. But I think the "excuse" will be earnings. This is the stuff of a short sharp downturn in oil: quote.bloomberg.com Quoting from the Article above: "Speculators who invest through pooled funds have already bought more oil futures on the Nymex than they have sold, leaving the net ''long'' position as of June 29 at a four-year high, according to the U.S. Commodity Futures Trading Commission. They could sell part of that position to lock in a profit from the near 5 percent increase in prices last week alone, traders said. Oil prices could fall by $1 a barrel if the speculators sold their position, Hutchins said."