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To: Lucretius who wrote (6453)	1/2/1998 10:11:00 AM
From: Thean	Read Replies (3) \| Respond to of 95453

We have the first wave of selling this morning. Think there will be a rebound before more consolidation. It is not going straight up for sure. Already sold UTI this morning.

To: Lucretius who wrote (6453)	1/4/1998 11:55:00 PM
From: A. Fineigler	Read Replies (2) \| Respond to of 95453

Lucretius, Thanks for the advice re NE. I did take a position in them just before Xmas, as they also showed up on a value/earnings screen and follow-up research as very attractive. Let's hope the rise continues. Re SDC - $2.73 expected this year (6/98), 3.72 FY99. No debt, which is amazing in this sector. Strong Buy = 4, Buy = 4, Hold = 1. no ratings below Hold. $4.3B market cap. Price around $40. Cash = 56c/share = $64M. 9/97 revs $177M, earnings $60M. Rents out jackups for North Sea, submersibles, and cantilever jackups. I've been sniffing around trying to find the reason for the exceptionally low PE. Haven't found any negatives to speak of so far, except for the general fear for the whole sector that day-rates will stop rising (or rise only slightly) this year. The things that seem very attractive are the lack of debt, the cash, the net margin last quarter (projected to continue), the deep-water rigs, the expected aernings growth rate, the PE, and last but not least the positive cash flow. What's not to like ? Best of luck with NE et al. AF