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To: Mr. Energy who wrote (135)	1/5/1998 1:33:00 PM
From: regine	Read Replies (1) \| Respond to of 444

TO ALL!! Monday January 5, 12:39 pm Eastern Time Grey Wolf to buy Murco Drill for $56.4 mln HOUSTON, Jan 5 (Reuters) - Grey Wolf Inc said Monday that it has agreed to acquire Murco Drilling Corp for $56.4 million and also assume net liabilities of $8.6 million. Grey Wolf said it has the option of paying up to $10.0 million in Grey Wolf common stock. Grey Wolf shares traded at at 5-1/8, down 1/4. The company has 164.3 million shares outstanding. Murco, which is headquartered in Shreveport, Louisiana, operates 10 land drilling rigs.

To: Mr. Energy who wrote (135)	1/8/1998 7:56:00 PM
From: jim p. holcomb	Read Replies (3) \| Respond to of 444

Mr. Energy, A lot has been said about land drillers lately but I have not seen anything in regards to supply and demand. It is well documented that there is a shortage of offshore rigs in proportion to drilling prospects; however I don't see any corallation between the available number of onshore rigs to the pending prospects. In a time of dropping energy prices I can't see accumulating "more iron" if you can't put it to work. I went through the early 80's bust and it is hard to forget. I'm sure these ex-Diamond Offshore officers remember that debacle and I don't really understand why they are acquiring rigs that may be stacked at today's prices. Your comment please. Jim.