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

To: arizona_ice_tea who wrote (559)	1/13/1998 1:06:00 PM
From: HH	Read Replies (1) \| Respond to of 2282

I hope everyone saw this: ADVISORY/Global Marine Hosts Fifth Annual SCORE Media Briefing to Focus on Factors Affecting New Construction Year-end Review of Worldwide Rig Economics and Industry Outlook for 1998. Is the Party Over? --(BUSINESS WIRE)-- Will $17 oil derail the growing offshore rig market? Will declining oil prices and falling energy stock prices squelch new-build plans? With shortages in skilled labor being listed as one of the top concerns of the oil and gas industry, will falling oil and gas prices bring back fears that the industry is unstable, hampering companies' ability to recruit new employees? -0- WHAT: Houston-based Global Marine will host its fifth annual SCORE media briefing to focus on the factors affecting new construction, as well as offer a year-end review of worldwide rig economics and an industry outlook for 1998. WHO: The media briefing will be led by Global Marine Inc [NYSE:GLM - news].'s Chairman and CEO C. Russell Luigs and President and COO John G. Ryan. WHEN: Monday, January 19, 1998 at 9:00 a.m. WHERE: Global Marine Inc. Boardroom, 12th Floor 777 North Eldridge Road (I-10 to Eldridge; turn south; proceed past Memorial Drive; turn right immediately into covered parking.) WHY: The recovery of the oil and gas industry has been based on steadily increasing demand, decreasing reserves and a stable price, as evidenced in dayrates not seen since the early 1980s. Now that Asia's demand for oil is weakening and supply is increasing with oil from Iraq, oil prices have weakened. Will companies have the confidence to proceed with plans to bring new rigs into the market? Global Marine will address this and similar questions related to new construction and the growth of the industry, looking to SCORE (Summary of Current Offshore Economics), an indicator of the health of the oil and gas industry, for insight. The monthly SCORE report, designed to remove the guesswork associated with sifting through variables to arrive at a conclusion on the industry's strength, measures current dayrates as a percentage of dayrates needed to justify speculative new construction. VISUALS:Color slides will be used to support the discussion. Global Marine will provide hand-outs documenting the industry trends and profiles presented. ------------------------------------------------------------------------ Contact: Stephanie Price or Deborah Buks, 713/869-0707 or Dave Herasimchuk, 281/596-5809