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Gold/Mining/Energy : Global Santa Fe (GSF) (formerly Global Marine) -- Ignore unavailable to you. Want to Upgrade?

To: Mr. Giller who wrote (545)	1/7/1998 6:20:00 AM
From: Paul Bonarski	Read Replies (1) \| Respond to of 2282

I would answer that by considering where the source of revenue comes for drillers. Companies like GLM are service companies that rent their equipment. They are not actually in the business of selling oil. Since GLM has a number of contracts that are somewhat long term, I doubt we will see any difference in earnings in the near term, especially this quarter. If daily rents drop or there is a decrease in contracts, we could see some decline in the long term. I also doubt this will happen. I think the situation will heat up again in the Middle East by then and prices will go back up. In my opinion, for a 3-5 year investment you cannot beat this company.