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

To: hdrjr who wrote (55526)	11/28/1999 11:08:00 AM
From: hdrjr	Read Replies (1) \| Respond to of 95453

11/27 7:38 North Sea Oil Yards Scale Back, to Cut 3,300 Jobs, Paper Says By Simon Spurgeon London, Nov. 27 (Bloomberg) -- Two North Sea oil construction yards run by Barmac will scale back operations and cut 3,300 jobs, the Daily Telegraph reported, citing Don Wright, the managing director. The yards, at Nigg and Ardersier in Scotland, are to be put on a care and maintenance basis as a result of cutbacks in investment and the earlier slide in oil prices. Barmac -- a joint venture between Halliburton Co., the largest U.S. oilfield service and equipment company, and McDermott International Inc. -- and the government have tried to head off the crisis without success, even though oil prices have doubled this year, the newspaper said. Halliburton said earlier this month that it is opening new funds and hiring new managers to help oversee investments for British pensioners. (The Daily Telegraph 11/27 p.30)

To: hdrjr who wrote (55526)	11/28/1999 2:06:00 PM
From: BigBull	Read Replies (1) \| Respond to of 95453

hdrjr: You just waived a red flag in front of ole Bullsky's nose!!!! Moody-Stuart; AAAAAAAAAAAAARRRRRRRGGGGGGH! This guy drives me crazy! There simply is no better contrary indicator for the price of oil than this guy. None! Hey, the man's got a track record. He should hire Don Wolanchuk on retainer and leave prognostication to the professionals. Unnnnnnnnnnbelievable!!!!!!!! And to think Moody-Stuart actually runs an oil company. Moody-Stuart will wind up paying THE highest day rates for rigs in the whole industry. Bet on it! JMVVHO RevisedUp