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

To: dougjn who wrote (18101)	4/5/1998 3:37:00 PM
From: shust	Read Replies (1) \| Respond to of 95453

Contest, Long ZICAF Long MANS Go drillers, but won't beat these two on a percentage basis for one week. Won't mind if they do. ESV FLC favorite drillers

To: dougjn who wrote (18101)	4/5/1998 8:38:00 PM
From: Chuzzlewit	Respond to of 95453

Doug, you realize that you put a hex on me by calling me a wunderkind!!! The three companies in this sector that I'm in are ESV, GLM, and VRC. Of the three, I think that ESV and GLM are the best "values". However, of the three I believe that VRC has the best growth potential because it is the easiest business to expand and it depends on technology that they control. VRC and similar companies should have earnings peaking before the drillers, but exactly when that will be I don't know. A decrease in VRC's backlog will be an early indication of decreasing rig demand. It depends I suppose on a calculus consisting in how rapidly known reserves are depleted and the available supply of rigs. So long as demand for rigs continues to increase without a commensurate increase in the supply of rigs dayrates will rise. The problem is that I'm not a very reliable oracle. I try to watch the news as closely as I can and I listen very closely to all of the folks on this thread who are in the oil business. Regards, Paul