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

To: Thean who wrote (10152)	1/29/1998 9:52:00 PM
From: Bazmataz	Read Replies (2) \| Respond to of 95453

NEW YORK, Jan 29 (Reuters) - Shares of offshore drillers and oil service companies rose Thursday on firmer oil prices and several upgrades from Prudential, dealers said. Marine Drilling Cos Inc (MDCO - news) added 1 to 17-15/16, Diamond Offshore Drilling Inc (DO - news) put on 1-3/4 to 44-3/4 and Noble Drilling Corp (NE - news) 1-2/16 to 28-1/16 after Prudential ugraded the stocks to buy from hold. Global Marine Inc (GLM - news), which was also upgraded to buy from hold, added 1 to 23-7/8 after it said it had bought one semisubmersible rig for $150 million and secured an an extension to a contract for another. It said that the acquisition would immediately contribute to the company's earnings and cashflow. Ensco International Inc (ESV - news) added 1-3/4 to 28-3/8 after Salomon Smith Barney raised it to buy from outperform. Among other drillers, Santa Fe International (SDC - news) rose 2-3/16 to 38-15/16 after it yesterday reported net income per share of $0.60 in the fourth quarter of 1997, up from $0.33 a year ago. The company said in a statement with earnings that it expected its earnings momentum to continue despite the Asian financial crisis and a decline in oil and gas prices. Analysts said that good earnings and and earnings visibility through this year as well as higher oil prices were lifting the sector. Lewis Kreps, analyst at Dain Rauscher noted that the sector was trading on just 11-12 times prospective 1998 earnings and that no industry outside the drilling sector offered the prospect of 75 percent earnings growth this year. ''The one thing that would help the drillers would be share buybacks, which would settle investors, among the group I follow, only Transocean Offshore Inc(RIG - news) and Noble have programs in place. I expect to see a lot more,'' Kreps said. Why the discrepancy in share prices? I show GLM closing at 24 1/4, not 23 7/8. Is this because my numbers reflect aftermarket trades? BC

To: Thean who wrote (10152)	1/30/1998 11:44:00 AM
From: JHR	Read Replies (2) \| Respond to of 95453

********** OT TO THEAN******** Haven't seen you post this morning so you may be out of pocket at the moment, but in case you're lurking, what does your TA and your opinion tell you about going into OPMRF at his level. Its at 8 1//8 when I just checked. I tried to get it last week at 7 5/8 and missed it, and then forgot about it . I'll also send this same question in an e-mail. I've got to leave in a half hour and was going to put an order in before I left. TIA