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Strategies & Market Trends : Strictly: Drilling II -- Ignore unavailable to you. Want to Upgrade?

To: Roebear who wrote (4088)	11/16/2001 2:02:31 PM
From: isopatch	Read Replies (2) \| Respond to of 36161

NEM CV PR continues inching up, as NEM has tanked. finance.yahoo.com vs finance.yahoo.com OR, for that matter, just about every other gold related stock you can find. Preferred is providing a great safe harbor without exiting the sector. NEM PR continues to be - by far - my largest position in the golds. Thank God!! Dividends MATTER in this market environment. With inflation adjusted yields on T-Bills and MMfs at zero or less BEFORE TAXES folks. Well selected medium grade corporate preferreds = far better place to park $$ now and in the foreseeable future for capital preservation PLUS giving you fat divs of well over 8% instead of zero. Makes sense to me while I for my sectors to put confirmed bottoms that offer good risk vs reward entry levels. Folks, this market keeps proving over and over that jumping the gun only results in your portfolio taking another bullet instead of a profit. Isopatch

To: Roebear who wrote (4088)	11/18/2001 9:33:36 PM
From: Frank Pembleton	Read Replies (1) \| Respond to of 36161

Roebear -- I just finished listening to Tesco's Q3 conference call. Like the PR says, these guys are definitely trumpeting the success of their casing drilling testing in Texas. They've extended their trial for an additional 5 wells and expect to correct 20% downtime due to tool failures. They’re doing this testing with the help of Drillers Tech (DLR.TO) as you know Tesco hold 20% of DLR’s stock and they are essentially a showcase for Tesco’s technology. I was looking at DLR’s rig utilization numbers and they are above industry averages. Utilization rates for 2002 are forecasted to be 30% higher than industry averages. Tesco has close to $200 million in working capital, the good news is there won't be any share buy backs, nor will there be any dividends. Their R&D budget sits a $10 million a year, and they've also budgeted another $50 million for capex. The capex includes the addition of more rigs and acquiring more production facilities. They expect casing drilling to be fully commercialized by Q2 of 2002 and depending on the orders received, they could very well double capex to $100 million. To conclude, Tesco believes the case drilling market to be as large as $1 billion and DLR, at the moment, has the only casing drilling compatible rigs. --------------------------------------------------------------------------- Tesco Corporation Reports Higher Net Earnings and Revenues over Last Year and Exciting Results in Casing Drilling(TM) Program biz.yahoo.com --------------------------------------------------------------------------- Drillers Technology Corp. (TSE: DLR) Third Quarter Results Strengthen, Rigs Fully Booked For Fourth Quarter and Winter Drilling Season CALGARY, ALBERTA-- * Rig 8 entered the field on October 8, 2001. Rig performance is exceeding expectations in early field trials. * Rig 4 is completing its fifth casing drilling well in Texas - the last two wells have approached near record times for the area. An extension to this program is being negotiated. Additional rigs may be deployed for future casing drilling projects. * Utilization rates through the fourth quarter are expected to be near capacity, as our customer base remains active. * The Corporation has completed negotiations with its lender to increase its total debt facility to $21.0 million from $11.0 million. The funds are to be used for future rig construction. biz.yahoo.com Regards Frank P.