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

To: pz who wrote (5555)	12/17/1997 8:03:00 PM
From: Flan	Read Replies (1) \| Respond to of 95453

Thanks Paul, I just got off the phone with an officer at KEG - He said that nothing had changed and that activity was strong. He was actually more excited about the prospects for this coming year than he was this same time last year. Said that some of the analysts had lowered PESC energy estimate for the coming quater and so people were naturally selling KEG too - Siad the company is buying stock as can be seen by their recent purchase announcement. Question is when to take the plunge - Stock or Options - I would like options because of the leverage but I do not know when this Flu season in the drillers will end. Any thoughts on that - Options are pretty pricey.

To: pz who wrote (5555)	12/18/1997 12:49:00 AM
From: Lee Fredrickson	Read Replies (1) \| Respond to of 95453

Paul; "If a slowdown does occur the land drillers will be hit first and deepwater gulf will be last." Why is this so? Longer contracts offshore? Smaller chance of large field discoveries? Or...? Also, why GOM last? Big hits off west Africa, China's Bohai Bay lately... Am long FLC and GW to try to cover both aspects and always felt that the 'beach boys' would lag (but still participate in) this year's offshore gains. Am in for longer run, not trading. (As patience allows.) Thanks for any response. Lee