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

To: HH who wrote (8436)	1/16/1998 11:59:00 AM
From: Swede	Read Replies (2) \| Respond to of 95453

A follow-up on Wicklund's comments. I just had a long conversation with Mike King at Rauscher. They had a conference call in office on drillers: For sure earnings will be strong this year--100% and more in some cases Exploration budgets up 10%--will drill this year regardless of price If oil stays at $15-16 all year, and they think it will stay there next year, then co's might cut back next year. $12 is the worry area They regard the above as highly unlikely * Deepwater will stay firm * Even with lower prices, co's are afraid of losing their place in line for rigs * Great potential for deepwater even 3-5 years