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

To: marc chatman who wrote (19307)	4/16/1998 11:34:00 AM
From: Broken_Clock	Read Replies (3) \| Respond to of 95453

marc, Baird and other ESV lovers...what was that all about!!!! Looked like a replay of the other day when they dropped the price then it slammed upward. Was the MM trying to get people to bail so he could accumulate shares for a big buyer? ESV went from 27+ to 25 1/2 in about 2 minutes then started rocketing up! Volume jumped about 400k in that time...

To: marc chatman who wrote (19307)	4/16/1998 11:42:00 AM
From: Czechsinthemail	Read Replies (2) \| Respond to of 95453

marc, GOM exposure for the deep drillers shouldn't matter since their rates should remain strong. There may be some psychological impact, but that's what makes buying opportunities. In that regard you are probably right that ESV will jump on the announcement that they will build a deep drilling rig because then they are suddenly thought of as a deep driller. As far as dropping estimates for ESV, we'll have to see. In the perverse logic of the markets, if they lower estimates it may weaken the stock price in the short run only to strengthen it when they beat the lowered estimate. Though it's always more thrilling to have your stock moving up, I like being able to buy it when the sentiment is more negative. It increases the profit potential over time. My guess is that after the number crunchers go over the results, you may see more value-oriented buying come into it. Meanwhile, I think the downside should be limited. It's simply very cheap compared with the other drillers not to mention the rest of the market. Baird