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

To: paul feldman who wrote (56565)	12/9/1999 12:17:00 PM
From: IndioBlues	Read Replies (1) \| Respond to of 95453

RRC suspends its dividend, CRK (see below) announces production tests from new well. Interesting times for the small cap NGs. Comstock Resources, Inc. Announces Successful Well at Double A Wells Field FRISCO, Texas, Dec. 9 /PRNewswire/ -- Comstock Resources, Inc. (NYSE: CRK - news; ``Comstock' or the ``Company') today announced the production test results of the W.T. Carter Brothers #11. This well was drilled to a total depth of 14,216 feet and was completed in the upper Woodbine formation through perforations from 13,966 feet to 14,046 feet. The well's completion was tested at 6.5 million cubic feet of natural gas per day and 510 barrels of condensate per day flowing on a 22/64 inch choke at 3,120 pounds per square inch flowing tubing pressure. Comstock owns a 49.5% working interest and is the operator of this new well. Comstock is currently drilling the W.T. Carter Brothers #12 and the Molly Luhrs #4 wells as the fourth and fifth wells of a proposed seven well drilling program in its Double A Wells field in Polk County, Texas. Certain statements in this news release regarding future expectations, plans for drilling, estimates of oil and gas reserves and production and pricing may be regarded as ``forward looking statements' within the meaning of the Securities Litigation Reform Act. They are subject to various risks, such as operating hazards, drilling risks, and the inherent uncertainties in interpreting engineering data relating to underground accumulations of oil and gas. Actual results may vary materially. Comstock Resources, Inc. is a rapidly growing independent energy company based in Frisco, Texas and is engaged in oil and gas acquisitions, exploration and development primarily in Texas, Louisiana and the Gulf of Mexico. SOURCE: Comstock Resources, Inc.

To: paul feldman who wrote (56565)	12/9/1999 12:31:00 PM
From: enervestor	Read Replies (1) \| Respond to of 95453

Thanks Sarge and John T. Unfortunately, I had managed to get into BHI just before their earnings warning so I caught both barrels of bad news. I agree with Slider that this isn't really a major disaster operationally, just the image problems with Wall Street and fighting the bloodsucking lawyers sure to pounce. However, I think when this sector heats up BHI will get drug along with HAL, SLB and the rest. It may initially be a laggard, but after everything else moves investors will be looking for something cheap and here it is. I also believe that time will occur much sooner than the recent OSX action would indicate. After Jan 1, the institutional managers have to figure out how the make money in 2000 instead of window dressing 1999 positions. Anyway, who bought BHI for its 1999 earnings?

To: paul feldman who wrote (56565)	12/9/1999 3:24:00 PM
From: Winkman777	Read Replies (1) \| Respond to of 95453

Hi Paul. BHI quantified its max loss at 40 to 50 mil. Very different from MDR's asbestos problems. And it's also quite different from WMI (Waste Management) "accounting problems". $50 mil/329 mil sh = 15c/sh. I bought at 16 7/8 and may sell here at 18.5. Don't really like BHI vs HAL. BHI's 2 warnings and HAL's one have proved to be buying opps for the sector. Maybe this will also. I went further into margin this am. Still only using 30% of margin. Bought RIG at 25.5. I know of no better long term buy in the patch. IMHO the selling of future RIG shares by index and lg cap funds is largely built into RIG at 25. Take care all. Winkman ***EDIT: BHI at 19 1/2 Think I'll ride it for a while. <vbg>