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

To: David Spruiell who wrote (3973)	11/29/1997 9:59:00 PM
From: drsvelte	Read Replies (1) \| Respond to of 95453

David: IMHO you may be bailing a bit prematurely. Check the prior posts on this thread or the AOL O&G board. Most of those with expertise in the industry feel that oil prices down to $16 will support exploration and drilling due to technology enhancements. And from what I've read, $18 is a more likely lower bound. But you need to do what makes you comfortable. drsvelte

To: David Spruiell who wrote (3973)	11/29/1997 11:47:00 PM
From: John Carpenter	Read Replies (3) \| Respond to of 95453

Approximately 60 percent of the world's offshore acreage is unexplored. Of this, 95 percent lies in water 3,000 feet and deeper, accesible by only 17 percent of the world's current active floating fleet. In RIG's 1996(the most current available) annual report, the firm mentions that its business assumptions are based on crude trading in the $17 to $19 range for the foreseeable future. We are currently trading at around $19.12. Current world events are fully consistent with RIG's game plan.