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

To: P.Prazeres who wrote (21061)	5/1/1998 6:35:00 PM
From: Shelia Jones	Respond to of 95453

Paulo, The ESV question has been going around for awhile. The general consensus is that their premium jackup rigs (primarily the ones in the GOM) are not demanding their premium quite so much at this time. This is because of pricing pressures put on the customers due to the lower price of oil. They are less willing to pay the rig price differential. As Baird has pointed out, with the uptrend in the sector and prices looking forward, the (IMO) high discount ESV trades at to some of the other drillers should narrow. Some drillers are at their highs now. There is a lot of room for ESV to move. Most agree that ESV is a well managed company with excellent equipment. And you are correct, their earnings are pleasant surprises. I hold ESV too. Keep the faith! Shelia