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

To: Harold S. who wrote (17987)	4/3/1998 8:56:00 PM
From: diana g	Read Replies (1) \| Respond to of 95453

Re: Wall St Week...... Frank Capiello likes Drillers; mentions NE (he's said he liked oil before) Guest from Value Line, Phil Orlando, very strong on Oil Service in general. Makes very positive statement.

To: Harold S. who wrote (17987)	4/3/1998 9:52:00 PM
From: RGinPG	Read Replies (1) \| Respond to of 95453

Maybe it's the lasting memory of a stinging 70% drop in value over the last 4 months. There has been hard evidence of rig rates falling for the land guys, something that has yet to occur for the sea drillers (nevertheless, the sea drillers have been getting earnings estimates cut the last few weeks). So first there was the perception that business for the land drillers would suffer because of falling oil prices. Stock prices fell. When there was actual evidence, prices fell further. I imagine that many have been burned by buying these stocks a few months ago because valuations looked good. Now the valuations are even better, and if oil prices hold up, the converse argument can be used for their appreciation. Unfortunately I think, these stocks are still "out of favor" until proven otherwise.