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

To: SliderOnTheBlack who wrote (54106)	11/5/1999 3:41:00 PM
From: Broken_Clock	Respond to of 95453

Slider...you forgot to mention the recent block action in OEI...-g- volume jumped from 575k to well over 900 in the last 30 min. It has been a while since we've seen such volume in the E&P sector in such a widespread manner. PXD wants 11 for a breakout to start that new uptrend.

To: SliderOnTheBlack who wrote (54106)	11/5/1999 4:25:00 PM
From: Crimson Ghost	Respond to of 95453

Slider: All here are well aware of the reluctance of many oil producers to hike capex much until they are quit sure crude will remain norht of $20. And the serious problems this is causing for OS. But looking at it from another angle, there have got to be serious negatives involved with keeping capex down too long. Like shrinking proven reserves as output is not replaced. The current spin is that there is almost no downside to the oil industry keeping capex depressed forever.

To: SliderOnTheBlack who wrote (54106)	11/7/1999 12:52:00 PM
From: Mark Adams	Read Replies (2) \| Respond to of 95453

RIG vs DO, Deepwater drillers Was looking at picking up some RIG at 25 1/2, but I see that their current ration is near 1 (per yahoo), vs 5 for DO. Given that their deepwater exposure might mean lower revenues and profitability yet to come, I suspect there is some risk of violation of financial covenants. I haven't done the research to verify what their long term debt picture looks like, so may be all wet. But I noted that when companies reclassify long term debt as current obligations the very survival of the company comes into quesiont, not to mention very poor stock performance. Does anyone else out there see a risk in holding RIG long term?