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

To: Frank who wrote (5411)	6/23/2001 10:25:49 AM
From: Razorbak	Read Replies (1) \| Respond to of 23153

Frank: Perhaps different interpretations? You are assuming that the verb "pressure" means "reduce". I can see how it could be interpreted as "increasing" dayrates in the GOM, or "decreasing" dayrates in West Africa. Razor

To: Frank who wrote (5411)	6/23/2001 1:22:34 PM
From: Gottfried	Respond to of 23153

Frank, re >jackups leaving for other waters at between eight and 12, which he expects to pressure dayrates< I'm confused, too. "Pressure" in this context can mean day rates going up OR down. The statement is ambiguous and this kind of reporting is not uncommon. If deliberate, it means the quoted person is bound to be right. Gottfried

To: Frank who wrote (5411)	7/5/2001 9:06:42 AM
From: Meridian	Read Replies (1) \| Respond to of 23153

Sounds like either Lain Smith is a waterhead OR he was misquoted. You're correct that these rigs are heading for W Africa, N Sea, Brazil ... and that dayrates will tighten as a result. Or at least that is the implication of rigs leaving the GOM. I heard that APA finished a few drilling projects early, and that is the only reason it laid off a few rigs. Speaking with Bob Dye, the IR guy, they are not concerned about a sharp fall in commodities prices from these levels. They are just pounding away in the shallow GOM trying to keep production FLAT. Any letup and production will fall. Good news for longer-term Bulls.