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

To: Bazmataz who wrote (19731)	4/21/1998 3:35:00 AM
From: Czechsinthemail	Read Replies (1) \| Respond to of 95453

Bazmataz, GLM has been showing a slower rate of growth than other drillers. Additionally, the turnkey business adds an element of uncertainty to their business. A number of drilling companies have reported losses on turnkey operations. I suspect this is due to margin squeezes when costs are rising on a fixed price contract. The heavy emphasis on turnkey projects makes it harder for me to evaluate GLM, so I guess I have a bit of a negative bias around that unpredictability. Other drillers are easier for me to understand. I suspect the other negative for GLM is their heavy presence in the Gulf of Mexico. Hope this helps, Baird