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

To: Roebear who wrote (68675)	6/23/2000 11:46:00 AM
From: jim_p	Read Replies (1) \| Respond to of 95453

I believe KEG started their road show today. The stock is doing well up 6.41% to 10 3/8. NR looks to be making a move again. One of these days NR and KEG will break out of their trading ranges. Tried to get some more HOFF at 14 1/4 but no luck. I guess BigBull is happy with TESOF up 10%. Jim

To: Roebear who wrote (68675)	6/23/2000 12:53:00 PM
From: Big Dog	Read Replies (1) \| Respond to of 95453

Sorry Roebear, that's a little beyond the scope of the Dog. big

To: Roebear who wrote (68675)	6/23/2000 1:26:00 PM
From: Aggie	Read Replies (3) \| Respond to of 95453

Roebear, hello My 2 cents on Tesco. Their primary business, one which I have used on many occasions, is the rental of top drives. A conventional rig can have one of Tesco's portable hydraulic power swivels (small top drive) hooked up in about 4 days to a week's time. The unit is completely self-contained and very well designed. Without going into great detail, the principal of top drive operation is that it brings tremendous versatility as well as efficiency to the drilling operation. This is especially true when problematic drilling conditions occur. I have always found their equipment to be in first class condition and their personnel to be top quality. Regarding casing drilling, the idea has been around for a long time. TESCO's contribution has been the development of a retrievable bit and motor assembly which allows the casing string to be drilled with multiple bits - i.e., you can change out the motor/bit when it wears out. This is as opposed to the conventional method of drilling an oversize hole with drillpipe, then pulling that out to make a separate casing run. The time savings implied (on a conceptual level) is around a day or so, depending on the depth. The downside is that wireline formation evaluation by the likes of Schlumberger are now ruled out, as the borehole is never left exposed. The real application for this technology as it stands is in fairly shallow, soft sediment wells which are in mature development, i.e., where formation evaluation is no longer necessary. I look for this technology to continue to develop, but there are big differences between drillpipe, which is engineered to handle tension, compression and torque, and casing, which is primarily engineered to handle pressure. You could make up a string of pipe to do both, but why go to the expense? You're just going to leave it in the ground. Just my ignorant opinion, you unnerstand. Regards, Aggie ps: Building on one of my earlier comments: Does anyone know who fills the SPR? Where is the oil purchased from? Please don't tell me Elk Hills.