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

To: Carmine Cammarosano who wrote (6685)	1/6/1998 9:37:00 AM
From: Big Dog	Read Replies (2) \| Respond to of 95453

I simply don't believe this market. The co-relation of our sector to oil prices is the ONLY logical thing I can see that is causing this capitulation. But I have no fear...this carnage will end. From 12/22 Jefferies Research Report We maintain our BUY on CDG with 12-mo price target of 95. CDG is currently trading (on 12/22) at 11.1 times 1998 EPS versus its compunded annual growth rate of 44% from 1997 to 1999 estimates. Based on 15X 1999 EPS, we believe CDG could trade up to $90 within 12 months. Potential conversion of the MOPU Rig 8 back into a jackup adds $5 to our price target. My comment : I think the story is the same for every driller. They are C H E A P