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

To: The Perfect Hedge who wrote (8882)	1/20/1998 5:24:00 PM
From: Teddy	Read Replies (1) \| Respond to of 95453

Here's a new one from The Wall Street Urinal, is this what happens right before companies stop drilling because the price of oil is going down and will never come back? (Looks like about $200,000 per day) January 20, 1998 Transocean Offshore Gets Order For $318M Drill Ship HOUSTON (Dow Jones)--Transocean Offshore Inc. (RIG) expects a total of about $372 million in revenues over the five-year term of a contract from Unocal Corp. (UCL) for a Discoverer Enterprise class ultra-deepwater drillship. Transocean said in a press release Tuesday that the drillship will be built at a total cost of about $318 million, including capitalized interest and other non-hardware costs. The contract also includes up to five one-year options, and has a cost-escalation provision to permit recovery of some incremental costs during the contract's term. Transocean said it expects the drillship to be operational in the first quarter of 2000. The new rig will be equipped to drill in water depths up to 8,500 feet and will be capable, with additional outfitting, of exploration and development drilling in water depths up to 10,000 feet, Transocean said. The drillship's initial assignment will be in the U.S. Gulf of Mexico. Transocean Offshore is an offshore drilling company. Unocal is an energy company with oil, gas and geothermal operations.

To: The Perfect Hedge who wrote (8882)	1/20/1998 5:29:00 PM
From: RGinPG	Read Replies (2) \| Respond to of 95453

I'm working on it. Hey, by the way, PEngr's neck must be getting pretty sore right about now (Re: he will have his head handed to him this week). I really shouldn't talk bad about the guy, I don't even know who he is except from the posts here. But I do know he went from sector expert to GENERAL MARKET GURU after correctly anticipating the fall in this sector. A man has got to know his limitations. I knew I should have mortgaged my house to buy more FGII.