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

To: Lazlo Pierce who wrote (10759)	2/5/1998 5:53:00 PM
From: Lucretius	Read Replies (1) \| Respond to of 95453

True, I said he sold a % of his position at the top (also note that his posts are always 2,3,or 5 days after he has supposedly made moves)--gives a little room for fudging wouldn't you say. You left out all of the posts where he rebought and sold again. It doesn't really matter. I just think it is funny when people give some internet poster God-Like status. It just makes me chuckle when the mkt is looking at rig utilization, dayrates, WTI, and macro S & D, and there are people who will say "Oh my God, Pengr has put out a Sell recommendation on the drilling sector!!!" It's laughable. Note he's buying again. I rest my case. I can't imagine what he paid in estimated tax back in Jan for his 4th qtr '97 sales. Maybe he only makes $20,000 a year and taxes aren't that big a deal, but my NE didn't decline enough to have warranted selling at the top. I'd still be worse off even if I had loaded up at the bottom. (I did buy more at 23 and 24 though--HEHEHEHE) Oh well, no harm. We'll just have to respectfully disagree on the merits of the famed Pengr---Hey, I'm still waiting for the fabled 3rd leg (LOL)--just kidding-- Here's a little something for everyone to remember as we probably correct a little, if you haven't seen it already: HOUSTON, Jan 29 (Reuters) - Noble Drilling Corp. said on Thursday that 75 percent of its projected 1998 revenues had already been contracted. "The company achieved record results for 1997 and will maintain this momentum into 1998," Chief Executive James Day said in a statement accompanying the earnings results. Shares of the offshore driller rose 1-5/16 to 28-1/4 in afternoon trading on the New York Stock Exchange. The company reported net income per share excluding one time items of $0.35, up from $0.20 a year ago. Analysts had been looking for $0.36, according to FirstCall. The stock was raised by Prudential Securities to "buy" from "hold" earlier today. Noble said that utilization of active rigs in the U.S. Gulf of Mexico averaged 97 percent in the fourth quarter of 1997, up from 95 percent a year ago. International offshore utilization averaged 97 percent for the fourth quarter of 1997 compared to 96 percent a yearearlier, it said. Day said that "rig inquiries and bid requests continue to be quite robust and have not been impacted by near-term uncertainties in product pricing". He did note, however, that "if oil prices remain weak, activity levels would decline in 1999".