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

To: RGinPG who wrote (15423)	3/18/1998 11:34:00 PM
From: Lucretius	Read Replies (2) \| Respond to of 95453

ESV is not a deep water driller, never has been. MDCO has two semi's, but that's their only exposure to deep. I just kept seeing this and thought I'd set the record. If anything is incorrect about anything other than NE, let me know, but I'm fairly certain this info is accurate to date evne though I don't follow others than NE very closely: 1. DO and RIG are the only pure deep water plays 2. FLC has a large deepwater fleet, but their barge rigs and shallow jackups far outnumber their deepwater presence 3. other drillers have a few semis and drillships but that is not their focus. 4. NE is orienting its business to deep water but is not a pure deep water driller, although they have and are taking steps to move that way. Here's some further info on NE that I picked up from some friends recently: 1. NE has a letter of intent for the Shelf IV semisub, but the operators (2 of them) have asked NE to not announce it yet for strategic reasons (GOM lease sale and others) 2. the Super EVA is a new-build design that is about 25% cheaper to build than anything other semi on the mkt right now. Hence a lower cost rig for producers and a product advantage for NE. Look for several to be announced very soon. Dayrate between 200 to 220K. Drops about .20 to the bottom line per rig. can drill in up to 10,000 feet of water. 3. NE has seen some softness in the GOM dayrates (2000 on a 72,000 dayrate for instance) but they only have 5 deepwater jackups in this area. West Africa, India, and North Sea continue to increase. 4. NE coninues to see VERY healthy demand for its deepwater rigs. 5. If stock prices continue to decline, consolidation opportunities will be taken. 6. looking to boost earnings to $8.00 to $10.00 range over next 5 yrs.

To: RGinPG who wrote (15423)	3/18/1998 11:40:00 PM
From: LTK007	Respond to of 95453

Great post,you have given me much to analyse and contemplate--part of the reason I involve myself in SI,is searching for those with wisdom and experience in investment,that I as a neophyte and am slowly acquiring due to the sharing of investors like you.My objective is accelerate the learning process by asking questions and listening to answers. It is time for me to go offline now--but I retire for the night realizing that i will give it a awhile more to make my decision. I,will say this,GLM,as a longterm investment looks good because it seems to be a comer in the sector of deep/ultra-deep drilling-- in that sense it impresses me. I have stated on other threads that my long money is all secure right now--and I am now working to get a "stomach" for short-term trading,not day trading,but what I call 2-3 point trading--that is buy 500 to 1,000 shares per trade and sell at 2 or 3 points gain. Thus far I have had 2-wins,2-breakevens,and 2 stalls,that is just hovering 5-10% below my purchase,they are safe longterm,but that's where short-term trading really gets tough--the stalls. Thanks to all for the in put I received tonight.Offline for now.max90

To: RGinPG who wrote (15423)	3/19/1998 1:00:00 AM
From: Chuzzlewit	Respond to of 95453

Ron, Chuzzlewit the cat is the source of all my winning strategies, and Chuzzlewit thanks you for the compliment. I should also point out that Chuzzlewit is never wrong. I know this because Chuzzlewit tells me so. Chuzzlewit likes to point out that whenever I make a losing investment its because I didn't listen to him. Regards, Paul