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

To: Czechsinthemail who wrote (18750)	4/11/1998 6:32:00 PM
From: Douglas V. Fant	Respond to of 95453

Baird, Agree with you on your earnings perspective. RDC for example, I've posted three reiterations of estimates by brokerages for FY98 eps, all in the $2.45-$2.50/share range, and with eps growth long term of 20% annually. Yet RDC sells for about 55% of its fair price based upon rate of growth x earnings estimates. I think that a 45% "discount" on projected share value going forward is sufficient to discount current oil prices! That's why I say that even with down oil prices all of the "bad" has been factored into these share prices.... Sincerely, Doug F.