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

To: Bazmataz who wrote (10036)	1/28/1998 8:23:00 PM
From: The Perfect Hedge	Read Replies (2) \| Respond to of 95453

From the Drudge report: This could really get ugly.There's no way we're going to bomb if France and Russia freak out over it: >>Thursday's WASHINGTON POST will report that France and Russia have joined in warning the Clinton administration against taking armed action against Iraq, urging a diplomatic solution to the standoff over U.N. inspections of Baghdad's weapons program... << Check this out for wild reading: freerepublic.com

To: Bazmataz who wrote (10036)	1/28/1998 9:20:00 PM
From: Thean	Read Replies (1) \| Respond to of 95453

BC, regarding <<Use PDE and GLM as a guide as to how bad PDS is performing.>> stems from the past price parallel among these companies. Back in the good days before Nov, they were trading at similar levels. You can also look at PE, past and future, and they too are very similar. The only thing not similar is the nature of their business, ranging from deep/shallow to shallow/land to cold land. We know the land drillers took the biggest hit because they had the highest PE last year due to overspeculation. However, PDS was not having a high PE. It was in fact comparable to the off-shore. The only sure buy for PDS comes from the company itself. With authorization to buy 5% of outstanding shares, the company can save PDS from falling further. However, 5% buying is not going to pump its stock price up. I won't be surprised if they announce another 5% buyback if in 2 months the stock price is still stuck at this level.