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

To: RGinPG who wrote (9048)	1/21/1998 3:50:00 PM
From: The Perfect Hedge	Read Replies (1) \| Respond to of 95453

Ron- Thanks alot. Couple things;if we're getting a reversal of the downtrend,why are you selling? Would you mind throwing EVI into your stock charts.It would be greatly appreciated. GD

To: RGinPG who wrote (9048)	1/21/1998 4:05:00 PM
From: Rob Hinton	Read Replies (1) \| Respond to of 95453

Just out of curiosity (sp?) what kind of signals are you getting with DO? Thanks, Rob

To: RGinPG who wrote (9048)	1/21/1998 5:18:00 PM
From: Jim Robinson	Respond to of 95453

Rowan Companies Enters into Term Charter Agreements With Sea Mar Management, Inc. and Edison Chouest Offshore PR Newswire, Wednesday, January 21, 1998 at 16:05 HOUSTON, Jan. 21 /PRNewswire/ -- Rowan Companies, Inc. (NYSE:RDC) announced that the Company has entered into term charter agreements with Sea Mar Management, Inc. and Edison Chouest Offshore for the exclusive use of five marine vessels -- an existing combination towing/supply vessel with anchor handling capability, and four new build towing supply vessels. Charter terms vary from one to five years commencing during the first quarter of 1998 for the existing vessel with new build vessel deliveries scheduled between the second quarter of 1998 and the first quarter of 1999. Each vessel incorporates state of the art hull design such as roll stabilization, bow thrusters and dynamic positioning. The vessels will be able to transport approximately twice the physical payload of conventional supply vessels. C.R. Palmer, Chairman and Chief Executive Officer, commented, "The reality is that the new generation of offshore supply vessels are not available on the spot market and the majority of our customers are not in a position to provide the necessary term commitments required for the construction of vessels costing from $12.5 to $17.5 million each. Certainly none of us desire to return to the era of wild speculation and oversupply, but the fact remains that new state of the art equipment is needed; I believe it can be justified economically; and Rowan's operations are being negatively impacted by the lack of availability. "We believe the new vessels will result in increased productivity and a reduction in overall drilling costs. We are proceeding with a pilot program to test the validity of this belief and we are looking forward to working with Sea Mar and Edison Chouest Offshore as our preferred suppliers." Rowan Companies, Inc. is a major provider of international and domestic offshore contract drilling and aviation services. The Company also operates a mini-steel mill, a manufacturing facility that produces heavy equipment for the mining and timber industries, and a marine division that has designed and built over one-third of all mobile offshore jack-up drilling rigs. The Company's stock is traded on the New York Stock Exchange and the Pacific Stock Exchange. Common Stock trading symbol: RDC. SOURCE Rowan Companies, Inc. -0- 01/21/98 /CONTACT: Bill Provine of Rowan Companies, Inc., 713-960-7575/