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

To: Czechsinthemail who wrote (13908)	3/6/1998 6:36:00 AM
From: Ditchdigger	Read Replies (1) \| Respond to of 95453

Thursday March 5, 12:30 pm Eastern Time RESEARCH ALERT - Grey Wolf lowered NEW YORK, March 5 (Reuters) - Jefferies & Co Inc said on Thursday it lowered its rating on shares of Grey Wolf Inc to accumulate from buy, based on market conditions and uncertainties in the short-term crude oil market. -- Company reported fourth quarter earnings of $0.03 per share, in line with analyst Roderick McKenzie Jr's estimate. -- Grey Wolf has experienced some seasonal weakness in both utilization and day rates, he said. -- Lowers 1998 estimate to $0.15 per share from $0.29 per share and 1999 estimate to $0.35 a share from $0.51 a share. -- ''We have reduced our 1998 dayrate forecast by approximately five percent,'' he said. ''Further declines in land drilling could result in additional dayrate and utilization cuts.'' More Quotes and News: Grey Wolf Inc (AMEX:GW - news) Related News Categories: US Market News