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Gold/Mining/Energy : American Eco (ECGOF, ECX on Toronto exchange) -- Ignore unavailable to you. Want to Upgrade?

To: Michael T Currie who wrote (1776)	2/26/1998 10:34:00 AM
From: Duncan	Respond to of 2841

<<Let's clear this one up right now. There may well be a need for this many rigs worldwide, but only 10-20 or so (my estimate) for the deep water semisubmersibles that cost this sort of money. These are fully mobile units that generally drill exploration wells and then move on. M.M. was probably referring to production units, which can be either fixed (steel jackets with topsides, tension leg platforms, drillships) or mobile (FPSO's = Floating Production and Storage Offloading). I would question the number for either of these also unless this was a projection for at least the next 5-10 years down the road.>> Michael: Thanks for your input/response. You obviously know more about the market environment for rigs, the pricing structure, and the current demands than I do. That's what makes this board so great. Perhaps you could call Mike M. in the next week or two and address Davie's backlog and future opportunities. I truly believe your questions and knowledge on this topic would shed a more accurate picture on the situation. Thanks, Duncan