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

To: RGinPG who wrote (11288)	2/10/1998 10:57:00 PM
From: upanddown	Respond to of 95453

Ron: I've learned a lot in your messages about TA but must confess I am still a novice. My confidence in the drillers (especially the deep-water guys) comes from their expected earnings growth in 98 with much of it from long-term contracts. I updated from First Call today and the six I've got (DO, RIG, NE, RDC, ESV, FLC) have an est. 98 P/E of 12.4 and an average est. 97/98 earnings growth of 65.48%. A lot of other offshore drillers are in the same ballpark. I don't see much effect from Asia and if a lot of other sectors are affected by Asia, I expect the street to look to oil services for dependable earnings growth as long as crude is reasonably stable. Do your long-term crude charts show any seasonal patterns with crude rising during the spring ? Best of luck, John