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Gold/Mining/Energy : Ensco International Inc. (ESV) -- Ignore unavailable to you. Want to Upgrade?

To: steve harris who wrote (1862)	11/6/1999 3:56:00 PM
From: Zakrosian	Read Replies (1) \| Respond to of 2005

Steve - I appreciate your posting on the rig status; I don't follow the oil sector very closely, but I do own some FGH. Has the rise in oil prices been driven primarily by increasing demand or OPEC cutbacks? If the latter, I would guess the drillers might be hesitant to increase activity. I'd think that once the supply goes up the the price will come back down and you're back to where things were last year. On the other hand, as long as the price stays up, for whatever reason, it makes sense to continue producing, so the rigs in service stay in service and the contracts are extended.