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To: Big Dog who wrote (14056)	3/7/1998 7:35:00 AM
From: swamp fox	Read Replies (1) \| Respond to of 95453

Big Dog-reference your discussion of the rig "paying for itself" in five years-what do you think of GLM's most recent big deal?

To: Big Dog who wrote (14056)	3/7/1998 11:15:00 AM
From: HH	Read Replies (2) \| Respond to of 95453

Grand Chien, How long do those mega-rigs last? 10 yrs. 15 yrs or 20 yrs or what ? thanks HH

To: Big Dog who wrote (14056)	3/7/1998 12:37:00 PM
From: William L. Oppenheim	Respond to of 95453

Are these rigs not financed so that the balance sheets show interest charges as a cost, and rental income as income. These things ought to generate a profit as they go along right from the start, once they are in operation. Of course, if they are paid off quicky, or internally financed, the interest charges disappear, but by then the equipment is often obsolete and in need of replacement precipitating further capital investment, and cost of capital analysis once again.