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

To: Chuzzlewit who wrote (2809)	11/8/1997 2:26:00 PM
From: bw	Read Replies (1) \| Respond to of 95453

<<I can't see how the monetary turmoil in in SE Asia can have any impact on the drillers.>> Paul..A little too general a statement IMO. One of the suppositions that this energy imbalance is predicated upon is the ecomomic and industrial growth of the emerging markets of Asia..If indeed the needs of these expanding economies decrease, it could have an effect on global supply/demand..Also, as far as ESV's exposure..I just said that they do have exposure in SE Asia, unlike some drillers. If they have to move rigs or get paid in "bhat" [I don't know of their contract details]..it could have some impact. And yes, the "monetary turmoil" has already impacted the drillers. One only has to have followed the stock market's fluctuations of the last week to confirm this fact.. While the drillers have enjoyed the distinction of being a fairly undiscovered value/growth sector for the last year, the momentum players have now taken command and will increase volatility. This can be good for the shorter-term traders, but will cause extra anxiety to those "holding their cards" for the longer term..And, those buying on every dip could bring on their own economic turmoil..<g>