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

To: stevedhu who wrote (14539)	3/12/1998 11:13:00 AM
From: Teddy	Read Replies (2) \| Respond to of 95453

RE: "Teddy--- Your next homework assignment is to find out what percent of next week's Gulf auction is shallow, deep..." That was an easy one, i just copy and pasted from my pal Mavis' article in today's thestreetdotcom. (i'll have to study the whole article later, nice long one) "Roughly 22.6 million acres, divided into 4,180 blocks in the areas offshore Louisiana, Mississippi and Alabama, are offered for sale, with over 3,000 of those in deepwater. (Typically bids are submitted for 5% to 20% of the tracts offered for sale.) The move to deeper water picked up in the Central Gulf sale in 1996, when 44% of the 902 tracts awarded were in waters deeper than 800 meters, or 2,625 feet. By last August's Western Gulf lease sale, that number had jumped to 76% out of 777 leases awarded." Excellent job Mavis! You get a star on your forehead.