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To: Ron McKinnon who wrote (13535)	2/22/1998 2:11:00 PM
From: Susan Saline	Read Replies (2) \| Respond to of 53068

More Oils EGEO GLBL GLM MDCO MRO PDE PDS PESC EGEO EAGLE GEOPHYSIC Oil Well Services & Equipment Earnings Per Share Last Quarter (Sep 97) 0.34 Surprise 62% Consensus Estimates This Quarter (Dec 97) 0.10 This Year (Dec 97) 0.77 Next Year 1.00 Number of brokers recommending as: Strong Buy 4 GLBL Global Industries, Ltd. Oil Well Services & Equipment Earnings Per Share Last Quarter (Dec 97) 0.18 Surprise 6% Consensus Estimates This Quarter (Mar 98) 0.12 This Year (Mar 98) 0.61 Next Year 0.90 Strong Buy 5 Moderate Buy 1 GLM Global Marine, Inc. Oil Well Services & Equipment Earnings Per Share Last Quarter (Dec 97) 0.48 Surprise 2% Consensus Estimates This Quarter (Mar 98) 0.42 This Year (Dec 98) 2.08 Next Year 2.64 Number of brokers recommending as: Strong Buy 11 Moderate Buy 5 Hold 5 Marine Drilling Co., Inc. Nasdaq : MDCO Oil Well Services & Equipment Earnings Per Share Last Quarter (Dec 97) 0.35 Surprise -3% Consensus Estimates This Quarter (Mar 98) 0.37 This Year (Dec 98) 1.72 Next Year 2.79 Number of brokers recommending as: Strong Buy 8 Moderate Buy 8 Hold 2 USX-Marathon Group NYSE : MRO Oil & Gas Operations Pride International, Inc. NYSE : PDE Oil Well Services & Equipment Precision Drilling Corp. NYSE : PDS Oil Well Services & Equipment Pool Energy Services Co. Nasdaq : PESC Oil Well Services & Equipment

To: Ron McKinnon who wrote (13535)	2/23/1998 10:56:00 AM
From: pz	Read Replies (2) \| Respond to of 53068

Ron, You might want to add LSS to your list of pipes/tubing. Here is my interpretation of what will probably happen with the current low price of oil. This list is in order of areas that will be hit hardest by the low price of oil to areas that will be hit the least. 1= worst 1. Oil Producers- low oil prices hit the bottom line before any other areas. 2. Land Drillers- since contracts are usually for a short period of time, and dayrates are already falling....not good. 3. Pipe suppliers- if you aren't drilling wells you certainly won't need pipe or you will use used pipe. 4. On land seismic co.'s- When you don't have the exta $'s around you wait for higher oil prices. 5. Shallow water drillers- these can be terminated easier than deeper water. 6. Supply ships- already competition in the gulf and low oil prices certainly won't help. 7. Offshore seismic- we'll know in March on how the Gulf of Mexico lease auction goes as to how active these companies will be. Deep water is where the huge fields are, so my guess is this area stays very strong. 8. Deep water drilling- the strongest sector because of huge demand and few rigs. Misc. - service areas like BJS, HAL- don't really know how to list them, but would guess that they would perform like the land based co.'s. So there you have it....land based co.'s should do the worst....shallow water second.....and deep water should do the best. Dang...they are coming to repossess my car, so I'd better run. :o) Paul