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

To: HH who wrote (8584)	1/16/1998 10:41:00 PM
From: Teddy	Read Replies (1) \| Respond to of 95453

Wow HH, it is back. Do you know if this was in the original? "Despite the short-term bearishness on the price of the commodity, long-term "the fundamentals are really good," says Bo McKenzie, an analyst at Jefferies and Co. in Houston. "Gulf dayrates are moving up, and the filing of well plans is going up," he says. The last cycle took 23 years to finish, he says, and we're roughly about two years into this cycle. Regardless of what may be diminishing demand from Asia for a few years, "you have to couple that with the underlying decline in reservoir life," he says. "A lot of these companies are not as dependent on the price of oil as the market thinks they are," says Randall Haase, portfolio manager of the Alliance Quasar Fund and a large shareholder of Parker Drilling. Haase, who has been an active investor in the sector since 1993, says he sold a lot of his offshore drilling holdings throughout the summer and fall but notes that they have come back down to attractive prices. They are now "much more of a buy than a sell," he says."