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

To: Flan who wrote (6121)	12/24/1997 2:03:00 PM
From: Bazmataz	Respond to of 95453

RDC again not a great showing. Only up 9/16 or about 2%, but on DOUBLE normal volume, even for an abbreviated trading day. Still no real reason why Rowan is relatively underperforming the rest of the sector. Anyone think there's some negative rumor that might be circulating? Anyone have any ideas? Not too happy with such a minimal upside move after so many serious, swift downturns, especially on high volume. Comments? B

To: Flan who wrote (6121)	12/24/1997 10:51:00 PM
From: A. Fineigler	Respond to of 95453

Thanks Flan. PDS Investor Relations said they have 100% rig utilization at present, contracted through the spring of 99. Also that any pullback in rig demand would likely not affect them as they believe they have relationships which favor them over smaller players in Canada. And also that they give their major customers a price break in good times so that they get favorable treatment and slightly above-market rates in lean times. She seemed to think the picture is very positive indeed for PDS going forward. Very confident of meeting forecast. At current prices in the low 20's (US), very low PE and very high projected growth, strong positive cash-flow, and a dominant position in their industry/locale, it just looks like a great buy. (And yes, I did buy today... fingers crossed that the subsequent rise today is sustained next week/month/year). AF