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

To: Thean who wrote (13421)	3/3/1998 3:03:00 PM
From: Lucretius	Respond to of 95453

Still haven't seen anything. Probably just merger charges. R&B also has a bad history of loses on the holes that it would take a working interest in. additionally, FLC (before grabbing RB) was primarily a shallow driller, lots of bagre rigs and subs. Could be this is coming back to haunt them. I disagree on the oil, if we do drop to $13 it may slow the advance, but unless suddenly there is a preceived change in supply and demand and world economics that will keep oil there, we will coninue higher. The fact of the matter is just as 4 months ago oil was $21 yet the drillers tanked by 50% cause hte MKT felt that oil was going down. We're now seeing the opposite, the mkt believes oil is eventually going higher, and the drillers will go ahead of it. Looks like OPMRF is taking a pause today. -Lucretius