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

To: Thean who wrote (13728)	3/5/1998 12:19:00 PM
From: The Perfect Hedge	Read Replies (1) \| Respond to of 95453

The rally seems to be fading.SLB down -- OSX up 1/2.GD

To: Thean who wrote (13728)	3/5/1998 12:39:00 PM
From: Czechsinthemail	Respond to of 95453

Thean, Given the serious move down yesterday on negative perceptions regarding OPEC and the possibilities for production cutbacks and the rebound today on hopes for better, I think the market is still very oil-price and OPEC-oriented. Perhaps you are right about the deep drillers drawing strength from the upcoming GOM lease auction, though another factor may be the positive write-up in a generally negtive Barron's article. A non-event by the land drillers today doesn't mean much, because they have recently gotten some positive play. But I'm hoping to see some life in them going forward--kind of like a canary in the mine to let us know how safe it is to be in here. Baird