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

To: Lazlo Pierce who wrote (16551)	3/25/1998 9:28:00 PM
From: Teddy	Read Replies (2) \| Respond to of 95453

David, would you (or anyone that is familiar with this) explain this comment: With conventional drilling, drilling fluids pressure inside the well must be higher than the underground formation the well is penetrating in order to prevent blowouts, among other things. Underbalanced drilling -- where the pressure in the well is kept slightly lower than that of the surrounding rock formation -- entails greater risk, but also does less damage and allows faster penetration, thereby saving time and money for E&P companies. Tesco senior vice president Martin Hall says that perhaps the most important characteristic of underbalanced drilling is that it can help increase oil recovery by "up to 20% or more," depending on the type of formation. To me, it sounds like Voodoo Drilling (sorry lisa, i didn't mean it that way). Are there any numbers to back up their claim?. Oh i didn't think so. My guess: one of these days.... BANG ... loss of life. The fact that the article comes from Barrons (AKA: The Wall Street Urinal and Friends), should sound an alarm in the trading heart of every reasonable person. To make matters worst, they mention TMAR in the same article. David, i don't claim to know much about this industry, but if the boats had a PE of 1 they would be over priced. Then again, who am i to question Barrons and Micheal Burk... ?

To: Lazlo Pierce who wrote (16551)	3/26/1998 7:28:00 AM
From: John Guild	Read Replies (1) \| Respond to of 95453

RE: Looking for Hidden Oil-Service "Gems" >Nevertheless, this relatively unknown firm is about to roll out an "underbalanced drilling" service that -- if successful -- could boost earnings significantly. Should the group move, Tesco will undoubtedly go with it, but the new service could offer downside protection -- and even some upside potential< Funny! Don't you just love these financial writers who know just enough about the drilling industry to be dangerous. Anyone buying Tesco because its going to start offering under balance drilling (UBD) services should understand that UBD has been around for years. Several of the major service companies offer UBD services as well as numerous boutique engineering shops. Aside from this, albeit UBD is growing, is applicable only for a small segment of the wells drilled. Tesco's 'new service' had better have something unique to offer in the way of UBD otherwise they might as well get in line with the rest of those offering UBD. On rigs I've work, the worms (inexperienced employees) always wore bright green hart-hats. These green hard-hats stood out among the experienced drillers wearing white hard-hats. That way we could keep a close eye on the worms thus avoiding worm screw-ups/accidents. It would be nice to have something equivalent for worm financial writers reporting on the petroleum sector. Maybe they could post in green lettering! john guild,, PE