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Gold/Mining/Energy : Ensco International Inc. (ESV) -- Ignore unavailable to you. Want to Upgrade?

To: Douglas V. Fant who wrote (1013)	4/7/1998 12:12:00 AM
From: Czechsinthemail	Respond to of 2005

Looks like a non-event to me, although rumor that the company might be losing some contracts might have been responsible for some of the stock price weakness. I don't see any indication that the company will have problems contracting its rigs. I think there is a good chance the stock will rebound on a relief rally. The situation remains that either ESV is seriously undervalued or other drilling stocks are seriously overvalued. I would guess that the issue is likely to be Coastal's reluctance to drill the project and ESV will contract with someone else without problem. Baird

To: Douglas V. Fant who wrote (1013)	4/7/1998 12:47:00 AM
From: Gottfried	Read Replies (2) \| Respond to of 2005

Doug and all, Saudi Arabia: Oil May Be Cut Again nytimes.com April 6, 1998 Filed at 4:57 p.m. EDT By The Associated Press DUBAI, United Arab Emirates (AP) -- Saudi Arabia's oil minister was quoted Monday as saying world oil producers are ready to cut back more if the previously adopted reduction of 1.5 million barrels a day doesn't stabilize prices. ''I can't say with any degree of precision what would be sufficient,'' Oil Minister Ali Naimi told the weekly Middle East Economic Survey. ''But what I do know is that there is a positive trend of commitment among the producing countries, and there is a willingness to cut more volume if need be,'' he said. The Organization of Petroleum Exporting Countries agreed at a meeting last week to cut production 1.5 million barrels an day to prop up sagging prices. Saudi Arabia is the world's biggest oil producer. In addition to Saudi Arabia, OPEC members include Algeria, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, the United Arab Emirates and Venezuela. GM