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

To: marc chatman who wrote (16661)	3/26/1998 11:49:00 AM
From: andy	Read Replies (1) \| Respond to of 95453

rdc has two gorilla class rigs under construction-many treat this as speculative and financially risky however if you look at the small number of rigs under construction based upon present day rates i.e. 70%needed to finance and that it takes 3 to 4 years to build such a rig rdc should be well positioned in that the next rig should come just as rates reach the level to spur demand. Also the next leg of this uptrend in oil demand will involve expansion of fleets which is business for rdc who has built 1/3 of all such rigs in existence today and further is setup to build such rigs unlike many yards that are building ships. It takes about 18mths to a year to convert back to rigs. andy