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

To: Thean who wrote (17898)	4/3/1998 11:50:00 AM
From: Broken_Clock	Read Replies (1) \| Respond to of 95453

Thean...then why wouldn't esv be dropping more? It looks to me like the whole osx is weak. it appears to be trading with oil today. Oil was above 16 and now well below.

To: Thean who wrote (17898)	4/3/1998 11:54:00 AM
From: bw	Respond to of 95453

Thean..<ESV is going to acquire someone and is probably going to pay "too much".> I think this is stretching the reality a bit. Today's intraday action is very similar to yesterday..and we finished strong. The volume could be due more to the mentions on CNBC this morning and recent upgrades. Also, ESV should be looking good to meet/beat estimates with heavy gas exposure relative to their earnings...

To: Thean who wrote (17898)	4/3/1998 11:55:00 AM
From: marc chatman	Respond to of 95453

Thean, could you explain why the price action would be consistent with such an announcement? I know you said it is based on what you have seen with other stocks, but does it also make intuitive sense? If the large blocks are on the buy side, which someone here indicated, wouldn't that seem to tell us that those (possibly) with more knowledge are looking for good news? Also, this seems to be the first day of large volume in quite some time. TIA

To: Thean who wrote (17898)	4/3/1998 12:26:00 PM
From: Czechsinthemail	Read Replies (2) \| Respond to of 95453

With many of the shallow drillers underperforming today, I don't think the trading so far in ESV is particularly newsworthy. As others have suggested, many are trying to get in and others trying to get out. In many respects it seems like a microcosm of the sector with many thinking it's a great value ready to take off to the upside and others thinking we're returning to hell. There certainly may be some rumor-trading, but without clearer indications that there is some substance to the rumors, I'm inclined to go for the value while its offered. Baird