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

To: Big Dog who wrote (10611)	2/4/1998 11:16:00 PM
From: s. sorrell	Respond to of 95453

Big Dog, Any thoughts on the CXIPY news this week? Stock responding to this news or upcoming earnings? << Coflexip Stena Offshore (Nasdaq: CXIPY) announced today that the first ever coiled tubing re-entry of a subsea oil well by a monohull DP Diving Support Vessel has just been achieved by Coflexip Stena Offshore Ltd. (CSOL), a UK subsidiary of the CSO Group. The use of a DP monohull vessel to run coiled tubing downhole was a world first. After a test run on an unused subsea well in adverse weather conditions with winds gusting up to 40 knots, the CSO Seawell repositioned to the live well on the Gannet Field where it successfully deployed 2400m of coiled tubing supplied by Schlumberger Dowell and installed the necessary production logging equipment to record data. The subsea intervention lubricator system used was provided and operated by CSOL's joint venture partner Camco Products and Services. The operation was much less costly than similar operations performed by a conventional drilling rig and represents "an important milestone in the development of cost efficient intervention techniques for subsea wells," comments Shell UK's Graham Potter. >> Regards, S.Sorrell