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

To: darra who wrote (80903)	12/6/2000 5:12:03 PM
From: excardog	Respond to of 95453

Noble Drilling Responds to Volatile Markets SUGAR LAND, Texas, Dec. 6 /PRNewswire/ -- Management of Noble Drilling Corporation (NYSE: NE - news) today provided information in response to recent volatility in its share price. Noble's common stock has ranged between $43.50 and $27.25 per share during the period November 15 through December 5, 2000. Noble's common stock closed yesterday at $31.00 per share. Management commented that the Company's operations continue to perform consistent with its previously disclosed business plans and objectives. The pace of drilling activity in the regions where the company operates generally remains strong. Bid requests for services indicate continued solid drilling activity levels for its fleet, and have not witnessed any signs that would indicate near-term softness in drilling markets. Although crude oil and natural gas prices also have been volatile, they have remained at high levels, which results in significant increases in cash flow. James C. Day, Chairman and Chief Executive Officer, said, ``As our customers focus on production growth and increasing their reserve bases, we look forward to improvement in the industry reinvestment rate. The increased levels of capital spending that are forecasted, together with good demand for oil and gas worldwide, continue to support an optimistic view for our business, and we maintain a positive outlook for the balance of this year and into 2001. ``Clearly, there are risks that could influence the outlook, including declining oil demand resulting from a slowdown or recession in various economies around the globe or other factors, such as governmental intervention, and oil and gas company reinvestment rates not increasing as forecasted.'' There have been reports recently of planned or potential, speculative new construction of drilling units by other offshore drilling contractors. Noble's management confirmed its long-expressed position that it would not participate in such a speculative newbuild or conversion program. However, management remains confident that contract opportunities will present themselves over the next several years for Noble to complete conversion of its three remaining hulls for ultra-deepwater applications. The Company reported that the Noble Dick Favor has received a 360-day contract from Petroleo Brasiliero S.A. - Petrobras and will mobilize next month to Brazil from Venezuela. The contract is scheduled to commence early to mid-February 2001. Noble disclosed in its Form 10-Q for the quarter ended September 30, 2000 that it had repurchased 500,000 shares of Noble Drilling common stock at a total cost of $19,604,000 during the 2000 third quarter. To date in the 2000 fourth quarter, Noble has repurchased an additional 914,000 shares of common stock at a total cost of $30,986,000.

To: darra who wrote (80903)	12/6/2000 5:18:04 PM
From: patron_anejo_por_favor	Read Replies (3) \| Respond to of 95453

PYR dwarf ROYL? No way. We're talking about a short term production and delivery problem in California, ROYL is the ONLY PRODUCER that sells production into this gas-starved market. PYR is a seismic company headquartered in Denver. How are they gonna exploit the (immediate and presumably short term) Natural gas shortage going on in California right now? Disclaimer: I hold ROYL shares (do you own PYR by any chance?)