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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 (53447)	10/23/1999 2:29:00 PM
From: BDR	Read Replies (1) \| Respond to of 95453

To the Thread: Salomon Smith Barney on Oil Drilling & Services (10/22) Buy Ahead of Expected Recovery in 2000 Geoff B. Kieburtz/Mark S. Urness We would buy selected oil drilling and services stocks for long term appreciation potential. Assuming that oil prices are sustained in the $18-19 range, the world's major oil producers should increase their year 2000 exploration and production budgets. An increase in the major's spending programs implies higher earnings for the oil drilling and services companies... Our top recommendations include Halliburton, Schlumberger, Nabors, Noble Drilling and ENSCO... Although we recently trimmed our 1999 earnings estimates for several oil service companies, we remain optimistic about 2000, and continue to expect significant EPS growth in coming years. In our view, most oil service and drilling companies will see 2001 earnings return to the 1997 level, with substantial earning power remaining thereafter... Full report (one page) available at- smithbarneyresearch.com Must register but it is free.