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

To: bw who wrote (16131)	3/23/1998 2:06:00 PM
From: Teddy	Read Replies (1) \| Respond to of 95453

Upgrades: Monday March 23, 1:46 pm Eastern Time RESEARCH ALERT - Merrill upgrades oil drillers NEW YORK, March 23 (Reuters) - Merrill Lynch said on Monday it raised its rating on shares of oil drilling companies including Global Marine Inc (GLM - news) and Diamond Offshore Drilling Inc (DO - news). -- Global Marine raised to near-term accumulate from neutral and long-term buy from accumulate. Stock gains 1-3/4 to 26-1/8. -- Diamond Offshore raised to near-term buy from accumulate while maintained as long-term buy. Stock up 2 to 49-3/16. -- Transocean Offshore Inc (RIG - news) raised to near-term buy from accumulate while maintained as long-term buy. Stock up 2-14/16 to 52-1/16. -- Santa Fe International Corp (SDC - news) raised to near-term buy from accumulate while kept as long-term buy. Stock gains 3-1/2 to 38-5/8. -- Cooper Cameron Corp (RON - news) raised to near-term buy from accumulate while maintained as long-term buy. Stock up 2-10/16 to 64-7/16.

To: bw who wrote (16131)	3/23/1998 2:07:00 PM
From: Chuzzlewit	Read Replies (1) \| Respond to of 95453

What I'm hoping for more than anything else is a shift in the way the market thinks about the sector. If it would only focus less on the price of oil (not that I'm complaining, understand) and more on the fundamental drivers of this industry I'd be a much happier camper. What happened with OPEC will probably not add to the profits of our companies (with the possible exception of the land drillers), because I don't see this as increasing the exploration budgets. Those will go up as reserves fall. Anyway, let's all enjoy the moment, and hope it lasts for some time. Regards, Paul