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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 (21821)	5/11/1998 12:29:00 PM
From: SJS	Read Replies (1) \| Respond to of 95453

From briefing.com ______________ NABORS INDUSTRIES (NBR) 27 1/8 +1 1/2. Shares of land drilling company are being lifted by a Morgan Stanley Dean Witter upgrade from outperform" to "strong buy." The move follows several recent meetings with NBR management, recent contract awards, and what Morgan Stanley calls a better understanding of the company's international position. What's more, later this week the issue will be added to the Morgan Stanley energy team's model portfolio, representing the firm's ten top picks among the 140 stocks covered by the group. But before you go out and load up on NBR, be forewarned that analyst Scott Soler does not necessarily think that the stock has bottomed out yet. Citing the continued softness in oil prices, Mr. Soler believes that the stock could potentially give up as much as 15% before making its move to the analyst's new $38 price target (increased from $35). Since Morgan Stanley first initiated coverage of NBR shares on March 2, the stock has climbed 18%. Following its recent report of Q4 earnings (which came in a penny below the First Call mean), NBR noted that operations in the lower 48 states of the U.S. had been hurt by lower crude oil prices. However, the company said that there are signs that lead it to conclude that "the rig market is stabilizing and that we may see an upturn in activity later in the year." Based on a First Call survey of 17 analysts, Nabors is expected to earn $1.56 (P/E 17) and $2.08 (13) a share for fiscal years 1998 and 1999, suggesting year/year growth of 33%. The company is forecast to log EPS growth of 24% per annum over the next five years.

To: marc chatman who wrote (21821)	5/12/1998 11:44:00 AM
From: johny	Read Replies (1) \| Respond to of 95453

TCMS which has to be one of the best or possibly the best value in this sector, has got some news today: Comments on TCMS and where its price is? TransCoastal Announces Upgrades to Pipelay Barge BH 400 HOUSTON--(BUSINESS WIRE)--May 12, 1998--TransCoastal Marine Services Inc. (Nasdaq:TCMS - news) announced today that it has completed extensive upgrades to its pipelaying barge ''BH 400,'' extending its capabilities to lay concrete-coated pipe as large as 44 inches in diameter. Upgrades include a new Power Dynamics 50-kip tension machine, enlarged welding stall covers, a hydraulic pipeline conveyor system, half-track rollers and a 26 x 26-foot helideck. A new fixed stinger was installed, and the stern departure ramp was widened from 8 feet to 12 feet. ''The extended capabilities of the 'BH 400' greatly increase the flexibility we have with our fleet,'' said Bill Stallworth, chairman and CEO. ''As the need arises, we will continue to upgrade our fleet to better serve our clients.'' The ''BH 400'' is currently laying 15 miles of 36-inch concrete-coated pipe in water depths from 6 to 48 feet in the Gulf of Mexico for Destin Pipeline Co. L.L.C., a consortium of Shell, Amoco and Sonat. On May 18, it will begin work for Transcontinental Gas Pipe Line Corporation, laying 5.8 miles of 30-inch pipe from Mobile Area Block 822 to the Alabama shore. TransCoastal Marine Services Inc., headquartered in Houston, is a marine construction company. Its services include pipeline installation and repair, primarily in the transition zone and shallow-water regions along the U.S. Gulf Coast. For all water depths, the company performs hydrostatic testing and commissioning of pipelines, plus fabrication and refurbishment of offshore drilling rigs, barge drilling rigs and structural components of fixed platforms. -------------------------------------------------------------------------------- Contact: TransCoastal Marine Services Inc., Houston Johnnie W. Domingue, 713/787-1375