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

To: jim_p who wrote (58760)	1/20/2000 7:26:00 AM
From: jim_p	Read Replies (1) \| Respond to of 95453

PTEN upgraded by Dain Rauscher Wessels from Neutral to Buy. Coverage initiated by CIBC World Markets at Strong Buy. PTEN was the first oil service stock I bought in April, up 125% in nine months. My second purchase was TBDI, a core holding. TBDI was $29.00 a share in August 1997, currently selling at $7.50. The company has no debt, $.43 cents a share in working capital, 1.48 MCFE per share in reserves, 17 land drilling rigs and a CEO and Chairman with an average age of 72 years. The company is controlled by two shareholders, the CEO who is 72 years old and in bad health (17.61%) and the other is controlled by Dan Rice of State Street Research & Management (25.38%). Some of you probably know Dan, he is the manager of State Streets Energy Fund. One of the top ten performing mutual fund in 1997. State Streets only reasonable exit strategy would be to sell or merge the company into another land drilling company. Gooooooooo land drillers. Gooooooooo TBDI, a sleeper. Bought more EOG, UPR and PXD yesterday. Mostly in E&P stocks now. Good Luck to all Jim