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

To: wggm who wrote (18713)	4/10/1998 4:09:00 PM
From: bw	Respond to of 95453

It means that "toast" might be served for breakfast on Monday... as in: "The drillers will be toast when this rumor was not quashed, but indeed confirmed"...

To: wggm who wrote (18713)	4/10/1998 4:09:00 PM
From: Broken_Clock	Read Replies (3) \| Respond to of 95453

Great post wggm. The Bug Teddy squashed has been brought back from the dead. No doubt this explains the softness in ESV, GLM etc. vs RIG.

To: wggm who wrote (18713)	4/10/1998 6:17:00 PM
From: marc chatman	Respond to of 95453

>>However, the have little impact on our price targets which were driven by replacement cost earnings assumptions.<< (From the Simmons Report). Can anyone tell me what are "replacement cost earnings assumptions" and how they relate to stock prices?

To: wggm who wrote (18713)	4/10/1998 7:03:00 PM
From: Shelia Jones	Read Replies (2) \| Respond to of 95453

Can someone please interpret this for me ? Anyone?, anyone? from post #18713 "Third, while day rates for the high-end jack-up rigs are softening, we believe that day rates for the shallow rigs will continue to increase slightly. This is a function of cost/value tradeoff. In the shallower waters of the GOM where rig demand remains strong, oil companies will be less willing to pay higher rates for relatively small incremental value of a high-end jack-up rig, especially on with a significant day rate differential. Obviously, day rate improvements for shallow jack-up rigs will be limited be the pricing set by the high-end jack-up rigs. However, we do not expect high-end jack-up rates top fall far enough to depress shallow water rig rates...."" It sounds like a rig is a rig is a rig. And concerning ESV, are the change in estimates changes to the already estimate reductions re: post 18417? This was a 5% reduction already, but from what? Do you have the number Simmons used? Since this came out before the open and again during the day I would figure we are the last to know of this report... Time to color the eggs.