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

To: Thean who wrote (18065)	4/4/1998 10:42:00 PM
From: sand wedge	Read Replies (2) \| Respond to of 95453

I actually enjoy seeing peoples' picks and their rationale behind them. I think there is merit to the posts. Just another view.

To: Thean who wrote (18065)	4/4/1998 10:47:00 PM
From: Big Dog	Respond to of 95453

Honestly, I don't know that industry segment real well. But I am learning. As far as I know, CXIPY is the leader. As to it's take over potential, I don't have the foggiest. It's quite a large company -- not that it matters though. I just think the money in the future is going to be in the process required to enable production from these deepwater fields. And drillers will have a part in this. As big as the fields are, it doesn't much matter what it costs to enable the production. For example: Troika (the biggest oil well in the US Gulf) will produce at 33,000 barrels per day. At $15 that is about $500,000 a day or $180 million a year. Do you think the oil company cares if it costs $400 million to develop that field? If you think drilling rigs get paid back quickly, look at what oil companies are doing. If it costs $400 million (and I don't have a clue what it costs), they get most all of their money back in two years. Then they produce for another 10-12 years or more and pocket the cash. Cool, huh? There is extreme money to be made enabling this sort of production. The money will follow the technology. Simple.

To: Thean who wrote (18065)	4/5/1998 9:14:00 AM
From: Mel Spivak	Read Replies (1) \| Respond to of 95453

>>Coflexip CXIPY: I know of no competition. They have the technology to connect deep water wells up to about 10,000' depths to the rig. They have a web site that is posted on the CXIPY thread. Their PE is about 12.

To: Thean who wrote (18065)	4/5/1998 8:39:00 PM
From: Teddy	Read Replies (1) \| Respond to of 95453

Old NEWS, looks like Fidelity and friends own a little CXIPY: Dow Jones Newswires -- January 9, 1998 FMR, Fidelity Own 10% Of Coflexip, But Not Seeking Control PARIS (Dow Jones)--FMR Corp. (X.FIN) and its Fidelity International Ltd. unit together own a 10.12% stake in France's Coflexip SA (CXIPY), the holding company for underwater contractor Coflexip Stena Offshore NV, but aren't seeking control of the company, the French stock exchange authority said Friday. FMR Corp. and Fidelity International were acting on behalf of the Boston-based Johnson family and pension funds managed by their units. The Johnsons own 20% of FMR's voting rights and 47% of Fidelity's voting rights. The French stock exchange authority, Conseil des Marches Financiers (CMF), said that FMR owns 1,597,950 Coflexip shares, or a 9.8% stake, and Fidelity International owns an 0.32% stake, or 51,100 shares. The companies raised their combined stakes in Coflexip beyond the 5% and 10% levels through market purchases of American Depositary Receipts (ADRs) on Jan. 6, the CMF said. Coflexip ADRs closed on the Nasdaq Tuesday at 54, down 1-1/2, or 2.7%. Coflexip officials weren't available to comment on the size of the stakes purchased Tuesday. According to the CMF, the purchases were made as portfolio investments. FMR and Fidelity don't intend to take control of Coflexip by increasing their combined stake to above 30%, the CMF said. FMR and Fidelity may make, however, additional purchases or sales of Coflexip shares, including ADRs, the CMF said.