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

To: Bazmataz who wrote (18228)	4/6/1998 8:56:00 PM
From: Thean	Read Replies (2) \| Respond to of 95453

Baz, I think the ESV news should be unfavorable to RDC because of their 2 gorilla leverage in spite of their water depth difference. GLM on the other hand has a lower beta so on a percentage basis they may not be as bad if the street decides to trash them tomorrow. I hope oil can perk up overnight so that I can get rid of my only driller NBR tomorrow morning without too much of a loss. My next purchase will depend on the relative size of correction for the deep, shallow and land drillers and some technical factors such as support levels etc. It likely will not be a land because I'm not going to hold them over the earning period which begins next week. Check out Ron's stochastics and BB. I'll let Ron do the talking here, if he wants to talk. NucTrader - thanks for your gold suggestions. Yes, me too am watching NE and see how it tread with respect to its technicals. It has some amazing strength lately. If it breaks key support, look for how it trades relative to FLC. Buy the cheaper of the two and you won't go wrong after the correction, if any. Papaya - when did you get the ESV insider trading info and how?

To: Bazmataz who wrote (18228)	4/6/1998 8:58:00 PM
From: Broken_Clock	Read Replies (3) \| Respond to of 95453

RDC has harsh environment jack up rigs. I f oil is down again then MDCO, GLM, ESV will no doubt suffer. I wish we could get the news as fast as the insiders. ESV had heavy selling yesterday and someone(a fund, no doubt) sold 300 ESV apr 25 calls today at 2 5/8. Easy money since ESV will no doubt return to the 24 range over the next couple of days.

To: Bazmataz who wrote (18228)	4/6/1998 9:12:00 PM
From: marc chatman	Read Replies (5) \| Respond to of 95453

Since thestreet.com belongs to Cramer, and since we know Cramer (by his own word) is not long the oil service sector, what is the possibility that he is painting the situation in the worst possible light in order to talk the group lower? I'm not saying he is or he isn't; I'm just looking at the possibility. Here is one statement, for example: The weekly Baker Hughes Rig Count, released Friday, indicated 43 fewer rigs drilling in the Gulf of Mexico against one year ago, highlighting concern about more marginal drilling projects in the Gulf. The number of rigs drilling for oil was down 89 last year, while the number of rigs drilling for gas was actually up 44 over last year. OK, what does this tell us about rig utilization rates? Nothing? If I recall correctly from Teddy's recent posts, aren't the GOM usage rates pretty consistent at about 96% (or something like that)? And isn't that up from last year. Also, the article starts by saying that Coastal isn't going to renew two ESV jack-ups. But for those who go on to read the article, I believe it says that of 3 jack-ups contracted to Coastal, one has been renewed, one is being shopped, and ESV is waiting to hear on one. Let's do the math Mavis. It could be true that ESV and others can't find work for their jack-ups. Or maybe it's not. I guess Coastal and all the other E&P's could go deeper, but there is a very limited supply of deepwater rigs. If they can't go deep, will they simply stop drilling for awhile? It's possible I guess. For disclosure, I'm long ESV (among others). Or as Cramer would say: "It's so painfully obvious that I'm long." <VBG> Comments anyone?