Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: tyc who wrote (14956)	3/16/1998 8:31:00 PM
From: HH	Read Replies (1) \| Respond to of 95453

Good news indeed, thanks for the scoop. HH

To: tyc who wrote (14956)	3/16/1998 8:37:00 PM
From: marc chatman	Respond to of 95453

I guess we'll see tomorrow whether the investment community looks at this GLM announcement as good news to buy or an opportunity to bail. Does anyone have a view as to whether we are seeing a lot of short selling in this sector? With oil sinking and the analysts predicting further erosion, my guess is the shorts are throwing everything they have at us. But I have no evidence. It would be nice if the shorts are building substantial positions here because the turn-around, when it comes, will be that much stronger. The monthly short positions should be out in a few days.

To: tyc who wrote (14956)	3/16/1998 8:39:00 PM
From: Bazmataz	Read Replies (1) \| Respond to of 95453

When was this GLM news released? I think this was known during today's trading day and is in the stock's price already. Someone correct me if I'm wrong.eom

To: tyc who wrote (14956)	3/16/1998 9:00:00 PM
From: Gottfried	Read Replies (1) \| Respond to of 95453

tyc, there is some phrasing in the announcement that gives a clue: >Until the end of June 1998, Exxon could elect to reduce the contract term to two years, in which case Global Marine would have the right to market the new drillship for a total of one year during the three-year term.< Does Exxon expect the current uncertainty to be over by the end of June? Until then, but not after, Exxon can reduce the term of the contract. Does anyone else see it this way? GM