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

To: bw who wrote (3112)	11/18/1997 8:12:00 PM
From: debra vogt	Respond to of 95453

To All: I am new to Silicon Investor and not really sure how to use this message feature. But anyway, as regards this sector. I have owned GLM since it was 6.50 and NE since 9.75. Found this thread about a month ago and have enjoyed everyone's input and level of knowledge. For all of us who are getting somewhat nervous, you should read the column by James Cramer in thestreet.com this evening. Thanks to everyone for the all the help and info. I have received from your postings. Oh, by the way, I also lived through the last oil bust in the state of Oklahoma. Now, that was a scary time!

To: bw who wrote (3112)	11/18/1997 8:12:00 PM
From: Big Dog	Respond to of 95453

Yes, this deal would include Seacor (CKH). Note that Chiles is NOT an operating company at this time. They do not have personnel or capacity to operate these rigs. They will likely "flip" the rigs to another drilling contractor before too long -- for a nice profit. The catch may be that a for-real, legit drilling contractor may not be interested in this "off brand" rig design. This offshore drilling market is turning out to be very interesting. You see there are some times deals that are "constructed" by players in the biz (I have done it myself, and the guy that put this all together is a former partner of mine) where the object is to make commissions by filling up the project. It is really a brilliant deal. These two rigs will be syndicated for most of the equity, likely from investors out of Norway. The guys that put the deal together -- the broker and Chiles -- will make a very nice size commission for placing the order PLUS for gathering the syndicated money. On a deal like this I expect they will make an easy $3 million, maybe more.