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

To: Tulvio Durand who wrote (17212)	3/30/1998 2:32:00 PM
From: HH	Read Replies (1) \| Respond to of 95453

My man Luigs, is pumping them up in N.O. Global Marine -2: Sees $1.4 Billion Revenue In 1998 NEW ORLEANS (Dow Jones)--Global Marine Inc. (GLM) Chairman and Chief Executive Russell Luigs said the company's goal is to reach $2 billion in annual revenue in 2000. Luigs told the Howard Weil Energy Conference here that he expects the company's annual revenue to hit $1.4 billion in 1998, up from $1 billion last year. Luigs said the offshore drilling company has a backlog of $1.6 billion worth of work, of which $1.2 billion represents operating cash margin. The executive said that although people believe the market for offshore rigs is softening, Global has seen a rise in 1998 in the daily rates at which it leases rigs. Luigs said he is comfortable with analysts' estimates that the company's earnings will be $2.04 a share this year, up from $1.53 in 1997. -Loren Fox; (201) 938-5267 "Dow Jones News Service" "Copyright(c) 1998, Dow Jones & Company, Inc."