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

To: Mudlogger who wrote (54971)	11/18/1999 12:37:00 PM
From: BigBull	Read Replies (2) \| Respond to of 95453

Mudlogger - OII is a company I sleep very well holding. The more I look the better I like it. No major safety debacles. They don't tend to flub the jobs they get, and I really admire their business strategy during the last oil bust - sell and work their way through it. No retrench and fire 30% of your skilled workers for these guys. As a consequence their crews hit the ground running when they get new work, which is often. When margin begin to expand the bottom line will explode. Imo, for traders 18 is probably a reasonable 1 month target. This company has set itself up to really take advantage of deep water. As the deep water fields are developed, these guys will be right in the thick of it. Multiflex stands to make big bucks in the deep. As they have just demonstrated with the news over the past few days, they can earn excellent money until deepwater really gets rockin'. OII's rovs own the deep (3000 ft and below). Their own capex is about over, they are as ready for B2K as anybody in the patch. Ultimately, I look for this company to take out their old high in a big way, because deep water is (in relative terms) so new. Lots and lots of business for OII in the future. Hey, deep water is where the oil is, can't sit on in forever. One of these fine days, all these deep water discoveries will pump oil. <g> Their technology, new offices in WA and Brazil, and excellent reputation, will get them major contracts in the big new fields. If that's not good enough, then just wait till the Majors get up off their dead and dyin' deep water behinds in the GOM. Btw,are you a mud man? JMVVHO Bull