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Gold/Mining/Energy : Global Santa Fe (GSF) (formerly Global Marine) -- Ignore unavailable to you. Want to Upgrade?

To: arizona_ice_tea who wrote (501)	11/17/1997 3:32:00 PM
From: Elmer Flugum	Respond to of 2282

I have no idea....especially for GLM, which has one of the lowest P/E ratios in the group. Perhaps there is quicker money to be made in the technology sector, since they were beaten down more severely and will bounce up quickly. Perhaps another reason, is the fact that earnings season for oil drillers will not roll around until January again and there is no news. Len

To: arizona_ice_tea who wrote (501)	11/17/1997 9:06:00 PM
From: Todd Willis	Respond to of 2282

I read a short report that said that the Ashberon Holding in the Caspian Sea is as deep as 2,000 ft. There was a suggestion that the drillers could not reach that depth. "There is not any fundamental reason. Chevron's underspend has become a focus for some, yet demand for rigs is strong," said Carol Lau, analyst at Oppenheimer & Co. "Saloman Brothers oil services analyst Geoff Kieburtz said the he also saw no fundamental reason behind the decline in the service stocks." ...I have a friend that has just returned from the Caspian Sea, worked on a platform. I am trying to find out the depth and the level of concern. I suspect that this is over played.

To: arizona_ice_tea who wrote (501)	11/18/1997 12:52:00 AM
From: Richard Karpel	Read Replies (1) \| Respond to of 2282

Here's the reason for the downtrend: From James J. Cramer's 11/14/97 8:39 AM ET column in TheStreet.com: >>>Who is Paul Chambers and why is he saying all of these horrible things about my favorite stocks? That question rifled through the minds of at least one thousand managers of mutual funds yesterday, as everyone's beloved group, the oil service stocks, got laid to waste, in a tumultuous, endless session. Until this week the drillers seemed immune from just about every contagion out there, including foreign nightmares, lower oil prices, and the Saddam scourge. But things started to fall apart Tuesday, and by Thursday, Paul Chambers, the Lehman Brothers oil-service analyst, was able to knock out the now-glassy-jawed group with just a hint of a rumor of a downgrade. The decline was so vicious that he said in today's Journal interview, "I'm basically the fall guy for declining prices."<<< I would highly recommend TheStreet.com under any circumstances, but even more so if you're invested in any oil service stocks. Cramer loves the drillers and his finanical news service is all over them.