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

To: Gottfried who wrote (20579)	4/27/1998 7:53:00 PM
From: Stephen L. Smith	Respond to of 95453

I'm a long-time lurker - enjoy this thread a lot. I just pulled this off of the Year 2000 thread. It's old news, and might be redundant, but I'm wondering if there's anything here to be concerned about. Comments? The Irish Times COMPUTIMES Monday, November 3, 1997 <Picture> Oil rigs fear year 2000 ------------------------------------------------------------------------ In the "IF you think you've got problems" department: the millennium bug could paralyse up to 100 oil rigs in the North Sea, a conference in Aberdeen was told last week. In a worst case scenario, the oil platforms would shut down when automated systems fail to recognise the year 2000. Each platform could contain more than 10,000 microprocessors, some deep below sea level, and each one would need to be checked. Just 43 out of Europe's 100 biggest companies have conducted detailed investigations into the implications that the Year 2000 date change could have on their systems. Not one said that its software could handle the date change, according to a study made for US investment bank Goldman Sachs. Honeywell says some of its products are still incompatible with the year 2000, but it hopes they will be fixed in time. In an interview with Reuters, its chairman Michael Bonsignore said the most worrying areas were in the fields of industrial process control and office environmental systems. c Copyright: The Irish Times Contact: itwired@irish-times.com

To: Gottfried who wrote (20579)	4/27/1998 7:57:00 PM
From: Douglas V. Fant	Respond to of 95453

Gottfried, Gruess Gott! I agree- Cyclicals are the place to be moving forward, and what better cyclicals are there than service stocks- IMO oil producer stocks will lag a little while longer. But a small anecdote that fits the article you posted. The Manager of our Thailand Office was in town two weeks ago. I had dinner with him. He said that "the worst is over" in Thailand, and that the "Thai economy is headed upward again" (exception being the overbuilt real estate market)... Sincerely, Doug F.