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

To: Flan who wrote (5915)	12/22/1997 10:14:00 PM
From: pwrmstr	Read Replies (2) \| Respond to of 95453

The Street.Com just posted a bearish article on the SLB conference call. Morgan's analyst backed the notion that SLB had signed a "25% below market" deal at $160,000 - $165,000 per day. SLB would neither confirm or deny the rumors about the structure of the deal. The article goes on to explain that the deal appears to be full of performance incentives that could provide SLB with considerable upside. This article will certainly not help the sector rally tomorrow. The reality of rapidly rising day rates haS propelled market multiples of this group. At the same time stagnating day rates combined with declining oil prices will further scare away the momentum money that has helped fuel this group's rise. I'm hanging tight with a three year investment horizon, as I have lost 25% on my only position, ESV, which is one stock that not many people on this thread ever comment on. Best of luck. John