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

To: Thean who wrote (14983)	3/16/1998 11:29:00 PM
From: Lucretius	Respond to of 95453

<<<The GOM lease-sales does not translate into any driller benefiting short term by able to sign up contract with anybody. The oil companies want to own the right to drill on those tracks and if you see the actual data a lot of tracks that these companies have bidded for and have the right to drill are still NOT DRILLED after 2-3 years. I'm sure most of NE's contract will be up for renewal in 2-3 years. The GOM lease-sale play is purely psychological and have really no material impact on the driller bottomline short term (next 8 months). My GOM point is a good showing or better than expected showing will give everybody in the oil service sector a psychological boost - showing that oil companies are not stopping bidding for the right to drill in the future in the face of slumping oil price today.>>>> Gee, reeally, Thean!!!!!!!!! I had no idea? Give me a break will ya. That's obvious! I think every monkey that follows these stocks is aware of that!!! BUT that's not what you said. You appeared to single out several drillers because of their exposure to the gulf. NE has very little. That's ALL I was saying. In any case, it's not worth arguing over. Good luck! -Lucretius