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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: Big Dog who wrote (64149)	5/11/2006 1:23:55 PM
From: ChanceIs	Read Replies (1) \| Respond to of 206326

Big - Thanks for the heads up on PDRT. I grabbed a chunk yesterday looking for a technical bounce, but the more i see, the more I think its one to lock away and forget for a year or two. I grabbed a bunch of Tesco (TESOF) - a Canadian drilling equipment company (overcenter drilling??) back in the '01 boom, and made a few bucks off of it. Its been a three bagger in the last few years. Wish I had held. E&Ps are nice and I have my share to be sure, but the E&Ps have to pay to get it to the surface, and new technology will always be welcome in this highly capital intensive market segment.

To: Big Dog who wrote (64149)	5/12/2006 8:04:39 AM
From: Ed Ajootian	Read Replies (1) \| Respond to of 206326

Big Dog, Particle Drilling (PDRT) -- Thanks for sharing that, it was most helpful. I didn't sell any of my small position in the carnage, but didn't add to it either. In the current RJ stat of the week, where they recap what they got out of going to this year's OTC, they echo the oft-repeated mantra about how slow the oil industry is to adopt new technology. This is what kinda has me spooked about PDRT right now, especially given the less-than-auspicious start that their new drilling technology has gotten off to. An excerpt from the RJ piece follows: "We believe this is evidence of the view from most in the oilpatch that activity levels will continue to move higher over the next several years. After spending several days checking out the latest and greatest oilfield equipment and technology, we walked away from the conference with three main conclusions: 1) The oilfield still has an extremely slow technology adoption rate; 2) Most products presented represented evolutionary products not revolutionary products; and 3) This year had more of a manufacturing focus vs. the technology focus of years past. Let’s look at each of these issues in more detail. The oilfield has an extremely slow technology adoption rate. The OTC is a recipe for disappointment for the throngs of investors that were scouring the acres of oilfield equipment and technology looking for the next best investment theme. The fact is, most of the new technologies highlighted at the OTC will have little meaningful earnings impact on our companies over the next two years. The overall attitude within the oilpatch is that most companies are willing to be the second or third to try new products, but no one is willing to be the first. As such, investors should realize that the oilpatch is notoriously slow at adopting new technologies."