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

To: Thean who wrote (18018)	4/4/1998 10:18:00 PM
From: Big Dog	Read Replies (1) \| Respond to of 95453

Thean -- While you say technology is "old news", be aware that there are two types of technology at play. The first is what you speak of -- technology to reduce finding costs such as 3D seismic and other such things. The second "kind" of technology, and what is more important in really driving the offshore market, is the technology that enables production from deepwater fields. This type of technology doesn't necessarliy make production cheaper -- it just makes it possible. As technology of this sort helps produce giant fields, the per barrel finding costs come down due to economies of scale. Plus, this creates more demand for drilling rigs -- especially in deep water. I don't think the analysts etc. have really picked up on the fact that techology of the second sort is the key to the future of the offshore drilling business. This is a reason I have always liked CXIPY. They will hopefully be a company that introduces technology to hook up all the wells. The plumbers. There are some huge challenges to overcome to tie back subsea completions and be able to do so from a further and further distance. (You quickly run into problems of the cold ass water solidifying the waxes and parafins in the flow lines.) Find the technology leaders and hold them for a few years.

To: Thean who wrote (18018)	4/5/1998 6:37:00 PM
From: DogDoc	Respond to of 95453

Ponder Industries---Is there a Golden EGG? Thanks for the welcome Thean. Do you are anyone else on this thread have a feeling for the future value of Ponder. It was previously stated on this thread "that Steven Webster knew every goose that laid a golden egg" and he has put just a tad bit more in this company than I have :) and my cost basis is about 2/3 of his, not bragging-just lucky. Eugene Butler,the new CEO, who I know socially said his goal for Ponder is over 200M in two years. He is a former CEO of Weatherford Enterra and when I called him recently, he said their acquisitions are on track. Below are recent news releases: >Ponder Completes $11 Million Private Equity Placement and >Acquisition of Fishing Tools, Inc. >HOUSTON, Jan. 16 /PRNewswire/ -- Ponder Industries, Inc. >(Nasdaq: PNDR - news) announced today that it has completed a >new private placement of 11,000,000 shares of its common stock >with White Owl Investors, L.L.C. and Somerset Capital Partner at >$1.00 per share. The transaction also included the conversion of >$2.5 million of Senior Convertible Notes held by an investor group >led by White Owl Capital Partners, an affiliate of White Owl Investors >and Somerset, into an additional 4,000,000 shares of common >stock. Steven A. Webster, President and Chief Executive Officer of >R & B Falcon Corporation, and William R. Ziegler, Chairman and >partner in the law firm of Parson & Brown L.L.P. of New York, have >been elected to Ponder Industries, Inc.'s Board of Directors. >The financing enabled Ponder to complete the acquisition of Fishing >Tools, Inc. for $6.5 million in cash and 644,496 shares of Ponder >common stock. Fishing Tools, Inc. is a full service fishing and rental >tool company, with three locations in Louisiana and one in Texas, >and has a significant offshore presence. The balance of the >proceeds from the financing will be used by the Company for debt >reduction and working capital. >ú Ponder Industries signed a letter of intent to purchase COT Oil >Tool, an El Campo-based company that provides fishing and rental >tools for the oil-field industry. COT operates three locations in Texas. >The company is to be purchased for approximately $2.2 million in >cash and $700,000 in Ponder common stock. Any words of wisdom?? Regards, DogDoc