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

To: drsvelte who wrote (17109)	3/29/1998 9:18:00 PM
From: Challo Jeregy	Respond to of 95453

drthin, Re: Rig construction I don't know about most of the drillers, but in NE's 10K report, they point out that their rigs are under contract or with letter of intent before they do conversions, etc. "Additionally, the Company has three other submersible rigs that it believes could be converted to semisubmersibles. Any such conversion would require significant capital expenditures. The Company does not plan to make a conversion unless a long-term contract for the semisubmersible is secured." I am assuming that this same line of approach is used before the rigs are constructed? Challo