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Politics : High Tolerance Plasticity -- Ignore unavailable to you. Want to Upgrade?

To: energyplay who wrote (540)	2/28/2001 8:21:58 AM
From: Terry D	Read Replies (1) \| Respond to of 23153

RIG - Transocean and Marathon announced that the contract on a new deep-water rig will be shortened. Marathon will employ the Cajun Express for a period of 18 months, less than the planned 36 months. The dayrate will drop only slightly, however, to $193,500 from $196,000. This is the last contract that was in jeopardy of cancellation due to delays in rig delivery. We believe the "bad news" on construction delays and cost overruns is in the stock; RIG is a Buy.