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

To: Lee Fredrickson who wrote (10955)	2/7/1998 5:56:00 PM
From: The Perfect Hedge	Read Replies (1) \| Respond to of 95453

Lee- no way teddy's 14?You seen them fightin' words he put up--that dude ain't no 14.GD

To: Lee Fredrickson who wrote (10955)	2/8/1998 1:22:00 AM
From: Czechsinthemail	Read Replies (3) \| Respond to of 95453

Lee, You are right that history has played out the devastating consequences of oversupply on the drilling business. However, it was triggered by the combination of heavy rig construction coupled with a drop in oil consumption when oil prices went very high. Currently, you have a situation in which the rate of rig construction has been relatively restrained and oil prices are low. While the fears of that major collapse in drilling may still loom in the minds of many investors, the fundamentals of the present situation are very different. Baird