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

To: Czechsinthemail who wrote (14096)	3/8/1998 5:12:00 PM
From: Thean	Read Replies (2) \| Respond to of 95453

Baird - The other offshore driller with good amount of gas exposure is CDG. CDG was the leader of the driller pack that "peaked" in January 1997 with corresponding peak in the natural gas price. The subsequent tumble erased CDG's market cap by nearly 50%. However, I don't have a percentage breakdown. John L - do you know GLM owns a concrete island? Along the theme of floating mega iron hulk discussion, anyone knows much about this concrete island?

To: Czechsinthemail who wrote (14096)	3/8/1998 5:22:00 PM
From: Thean	Read Replies (1) \| Respond to of 95453

Bad news - Saudi will not attend the March 16 OPEC meeting. Story out at Bloomberg: bloomberg.com@@imLRvgYAtoEtBzKY/energy/nrg2/topnew/topnew_front.html Let's see how Simex crude does tonight. Regardless, the negatives (bad TA, crude, OSX, overall market) overwhelm the positives of owning the driller stock short term. The only two positives are the merger/takeover speculation and the GOM leasesales. But merger speculation will die down quicly if nothing materialize for MDCO by tomorrow. The only hope is GOM leasesales exceeded expectation like the last two years. Anyone has any estimate of the kind of resonse this leasesale is going to get? Industry Insiders, especially those who are actually doing the bidding - what do you think?

To: Czechsinthemail who wrote (14096)	3/8/1998 7:05:00 PM
From: Lucretius	Respond to of 95453

Baird, oil is in the process of bottoming. While the drillers may not vault up from here, I think most investors now invloved w/ the stocks realize the story and will not be selling on every downtick in crude. We've seen the bottom in drillers. When crude has bottomed and begins a new uptrend, multiples on drillers will expand again. Until then, it will be slow going but up, nevertheless. Wait till early May when crude will stabilize, then the drillers will catch fire once again and the airlines will begin their slow death. -Lucretius