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Gold/Mining/Energy : Friede Goldman Halter (FGH) -- Ignore unavailable to you. Want to Upgrade?

To: BigBull who wrote (41)	3/7/2000 10:55:00 AM
From: SargeK	Respond to of 177

Bull, Thanks! Just picked that up on Yahoo. Full article: "$76 billion in deepwater spending forecast for 2000-04 Analysts Douglas-Westwood Ltd. and offshore industry data specialists Infield Systems have projected total spending of $76 billion on deepwater oil and gas projects worldwide in five years. ?The World Deepwater Report 2000-2004? shows most future activity will come from Brazil, West Africa and the Gulf of Mexico. Some of the greatest prospects lie off West Africa, including the $2.5 billion Girassol field on Block 17 off Angola. During the next five years, West African deepwater expenditures are expected to accelerate from about $800 million in 2000 to nearly $5.5 billion in 2004, possibly even eclipsing Brazil to become the world?s largest deepwater market, the report said. The study identified 220 deepwater field prospects worldwide with 20 billion barrels oil equivalent reserves. The study?s authors expect the deepwater plays will be dominated by the largest players. Twenty-nine operators currently are considering deepwater developments in the period to 2004, but seven companies are responsible for more than 77% of the reserves, the study said. ?We are confident that deepwater expenditure will grow as oil companies seek to balance the greater costs of deepwater with the greater political risks of oil from other sources,? said John Westwood, the study editor. The forecast growth in deepwater activity has the potential to require drilling and completion of more than 1,400 wells, supply of more than 1,000 subsea trees, 300 templates and manifolds, nearly 10,000 kilometers of subsea control lines, 12,000 kilometers of flowlines and risers, and more than 100 floating and fixed platforms, the study said. --Paula Dittrick, Associate Editor, Oil and Gas Investor, Houston Bureau Chief,Petroleum Finance Week oilandgasinvestor.com COMMENT: If in FACT, this level of spending materializes this very much supports Mr Holloway's LONG TERM views and prospects for growth for the next several years. Because of the lead time necessary for constructing deep water E&P equipment, I fully expect orders for refab and newbuilds to start trickling in within the next few months. FWIW SargeK

To: BigBull who wrote (41)	3/8/2000 8:14:00 PM
From: Mel Spivak	Respond to of 177

OT on CXIPY - about to break out: News: Mar 8 CXIPY BP Amoco Awards Significant Project to Coflexip Stena Offshore in Norway - PR Newswire PE of 20 and a recent series of news of new contracts for their services (& more to come in this era of VERY valuable oil under the depths of the seas finance.yahoo.com A chart that has just begun to break out charts2.barchart.com A technical opinion that is 100% "Buy"! quotes.barchart.com IMO the best "risk/reward" play (that I could find, anyway). I have been following CXIPY a long time. Mel