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

To: bobgh who wrote (3223)	11/19/1997 4:07:00 PM
From: bw	Respond to of 95453

bob..I don't think that GLM is such a bad behavor. It's PE does reflect that the tax benefits that they have received in the past will be phasing out next year, which should be more than compensated for with the increase in revenues/dayrates. This should not affect the earnings estimates that are being projected; these estimates still make GLM one of the better upside candidates from these levels..They have more visability than some of the drillers, but maintain a good beta in relation to the general market..Don't judge this stock by the last week's performance...I'm sure the longer term holders have been quite pleased with the stock in these last few years..