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

To: Thomas M. who wrote (6242)	12/30/1997 8:26:00 AM
From: Teddy	Respond to of 95453

Tom, he said: "...I now believe that any lift will represent a chance to pare back the group to a couple of favorites." Doesn't sound like he sold any yet, and plans to keep at least two. Seems to me that if we make it to January everything will be fine.

To: Thomas M. who wrote (6242)	12/30/1997 8:30:00 AM
From: David Spruiell	Respond to of 95453

New York--Dec 29--NYMEX Feb crude fell 3.2% to the lowest level for a nearby contract since February 1996, driven down by weekend news Iraq expects to resume oil exports under the UN oil-for-aid deal in the next week. The market also has to contend with the prospect of OPEC's output- ceiling increase beginning Thursday. Meanwhile, there is growing concern that Asian demand is due for a downturn after recent economic troubles. NY's move followed Feb Brent, which broke key support at $17.00 today, moving to the lowest level for a nearby month since May 20, 1996. By M.C. Ward, Bridge News, Story .1900 Brent North Sea London(IPE) Feb. 16.60 -.30 Mar 16.78 -.32 I am not sure of the exact times of these IPE trades, but I think they are current London time 1:30 PM. Looks like crude is falling fast. I plan to exit RIG on any upturn. Best luck David