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

To: Thean who wrote (4164)	12/1/1997 11:04:00 PM
From: John Carpenter	Respond to of 95453

You'll be better off with RIG in the short term. DO is having some troubles with its drillship and is experiencing idle time this quarter. Some brokerages have caught on and lowered 4Q estimates(they maintained their buy ratings). You'll be better off with RIG in the long term. RIG owns 5 fourth generation semis and has 25% interest in two others. DO owns only three. RIG has four ultra-deepwater drillships coming on line-DO will have just two. The people who like DO comment on its diversity. The people at RIG answered my questions immediately, it took the people at DO three days to call me back. Larry Tisch screwed over DO holders with his $65 convertible bond offering(effectively reducing LTR's stake) RIG has an active repurchase program in force. You decide.