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To: The Ox who wrote (20273)	4/24/1998 2:00:00 PM
From: Lucretius	Read Replies (2) \| Respond to of 95453

Nobody listens to what I type!!!!! READ what I am saying!! this is the 3rd time someone has accused me of talking about this sector. I wasn't talking about this sector!! I was talking about the broader mkt and analysts explaining it as "just profit taking." It reminded me of the beginning of the driller correction last Oct, and I though it was kind of funny. that's all, nothing more. This sector will fair FAr better than all others in a correction (other than gold) or bear mkt but they will come down a little. Hence, I still own NE, but am hedged. -Lucretius

To: The Ox who wrote (20273)	4/24/1998 2:05:00 PM
From: Broken_Clock	Respond to of 95453

Michael...I just listened to the replay on NE conf. call...LT was right about the jack-up negativity. Deepwater is solid and they have continuing interest for the conversions which are taking place now at FGII and HLX. In fact, NE is looking to buy TWO new semi hulls! So, LT we should see improvement. The idle rigs in the GOM are 2 RDCs and 1 MDCO, NOT ESV! The rig ratensoftness he spoke of for jack ups was in line with ESV estimates so tat is old news. Day is a real worry wort...even when talking about a new 5 year semi contract which should be inked in 30 days(the semi isn't even built yet!), Day sounded very down beat. And that's good news! This guy hasn't had a good day in a long time<G>