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

To: Teddy who wrote (18389)	4/7/1998 9:16:00 PM
From: marc chatman	Read Replies (2) \| Respond to of 95453

Teddy, you have to stop reading this depressing stuff. Maybe read some poetry to cheer yourself up -- perhaps some Emily Dickinson. Onto some other business. I'm seeing huge volume today on April and May 110 OSX puts -- 3474 on the April contract and 4060 on the May. I'm assuming it is part of an institutional hedging strategy. Any thoughts? Also 2809 traded today on the RIG April 50 calls.

To: Teddy who wrote (18389)	4/8/1998 5:37:00 AM
From: Teddy	Read Replies (3) \| Respond to of 95453

Interesting ARTICLE from The Wall Street Urinal: (actually over a week old and i think i posted it before, but unless things have really changed in the last two weeks...) Dow Jones Newswires -- March 30, 1998 Global Marine CEO: Goal Is $2B Revenue In 2000 NEW ORLEANS (Dow Jones)--Global Marine Inc. (GLM) Chairman and Chief Executive Russell Luigs said the company's goal is to reach $2 billion in annual revenue in 2000. Luigs told the Howard Weil Energy Conference here that he expects the company's annual revenue to hit $1.4 billion in 1998, up from $1 billion last year. Luigs said the offshore drilling company has a backlog of $1.6 billion worth of work, of which $1.2 billion represents operating cash margin. The executive said that although people believe the market for offshore rigs is softening, Global has seen a rise in 1998 in the daily rates at which it leases rigs. Luigs said he is comfortable with analysts' estimates that the company's earnings will be $2.04 a share this year, up from $1.53 in 1997.