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

To: Tom L. French who wrote (3232)	11/19/1997 5:08:00 PM
From: Michael Berkel	Respond to of 95453

"Deepwater may be due for boom" says article in the November 3, 97 issue of Ocean Oil Report. - John Westwood, analyst for Douglas Westwood and Associates recently spoke at the Deep Ocean Technology conference in the Hague/Holland. - Said $100 billion has been earmarked by operators for 1,893 future worldwide deepwater developments for the period 1997-2001. - During this time, 13,242 km of flowlines, 12 Tension Leg Platforms (TLP), 62 floating production systems and 917 subsea wells under consideration. - 100 fields in water depths greater than 200 meters are in prospect - 53% of this expenditure is in FPS's alone - 44% of this expenditure is targeted at GOM, 28% Europe, 11% Brazil, 6% West Africa - Numbers in Brazil will increase once they open the doors for outside investment - Big Challenge - Where will the manpower come from in a short time span This bodes well for NE/RIG/DO/FLC. FLC should have more opportunities with large presence in GOM/North Sea/W Africa/BRazil. Also into FPSOs and joint ventures established with prime subsea production vendors. Fundamentals continue to look solid. Thanks ME2CONLY of AOL Message Board for posting the above.

To: Tom L. French who wrote (3232)	11/19/1997 5:14:00 PM
From: Michael Berkel	Read Replies (2) \| Respond to of 95453

Bullish drilling industry report. Simmons & Co. issued a very thoughtful, and fundamentally sound report (dated Oct. 24) on the drilling industry. It makes a compelling case for the drillers for the next 10 years. The fundamentals of this industry are as sound as it gets in any industry. Traders will have their short term triumphs but the investors who stick with this group will make the serious money over the intermediate and long term. Matt Simmons is certainly the most respected observers of the oil service industry and his views are well respected by the majority of the investment capital sources in this sector. I am betting my money on his position which is unabashedly bullish. Thanks TRAWE for posting the above article on the AOL Message Board. It makes me sleep more quietly.