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

To: Teddy who wrote (8490)	1/16/1998 2:46:00 PM
From: Czechsinthemail	Respond to of 95453

Dain Rausher apparently echoes the positve view of GLM. They announced an upping of their estimates for this year from $1.93 to $2.03 based on increased dayrates, timing of contracts, and order backlogs. Baird

To: Teddy who wrote (8490)	1/16/1998 3:36:00 PM
From: Tulvio Durand	Read Replies (2) \| Respond to of 95453

Interesting pronouncements by GLM's CEO Luigs, Actually, Luigs wouldn't like to see oil rise too far either. "We'd get hurt if oil went to $14 or to $40 a barrel," he said, because at the higher price, oil companies wouldn't have to drill as much to make a profit. He believes oil will bounce back into the $17-to-$21 range it's held throughout the 1990s, because demand for oil and gas is growing, even with Southeast Asia's financial crisis. "The budgets of the oil and gas companies are driven by the demand for oil and gas, not the price," he said. I too would argue that oil demand in SE Asia will increase because of added pressure to increase exports. SE Asia has to keep those fires burning at their factories day and night to take advantage of cheaper labor rates and increased production demand. Lots of oil is needed for those fires. Hope price of oil doesn't get to $40. Shoot! New worry!!<G> Tulvio