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

To: Big Dog who wrote (3858)	11/26/1997 10:28:00 AM
From: The Perfect Hedge	Read Replies (1) \| Respond to of 95453

Maria Bartaromo on CNBC said she talked to an analyst(no name) this morning and was told that the oils have bottomed.GD

To: Big Dog who wrote (3858)	11/26/1997 10:48:00 AM
From: stevedhu	Read Replies (1) \| Respond to of 95453

Mike I just got off the phone with John Peterson at GW, he said that rig utilization was over 90% and that they didn't have any new rigs on order however; they were reworking older rigs in inventory to get them on line. John also said that they are in Venizuaila (SP)(South America),and as yet hadn't been approached to go anywhere else. In regards to day rates he said they were going up $300 to $500 a day as the contracts were renewed, I asked why not more and he said that they planned on working with the companies for a long time and didn't want to chase them off, even if they were pressed to put a hole in the ground. In regards to suppliers they buy from, the two primary vendors are National Oilwell and Colinental Ensco (SP). He also found it strange that when they had a secondary offering that the stock backed off very little (12.5 Mill. new-12.5 Mill. Orig. founders) but in talking to a Morgan Stanley manager (trying to get future business)the manager felt that the current sell off was a combination of world markets, fast run up, and fund managers locking in profits and BONUSES. Did I miss anything? Steve