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

To: JHR who wrote (22073)	5/15/1998 8:47:00 AM
From: marc chatman	Respond to of 95453

News that the major integrated oil companies have begun evacuating their employees from Indonesia (CNBC). Does anyone have good information as to which drillers have the most exposure in Indonesia? Also, I believe many of the offshore rigs there are near Kalimantan and Sulawesi (away from the more volatile population centers in Java and Sumatra). But I am not sure about this. Does anyone have any information as to whether drilling will slow or cease in these areas? I guess this could be a double edged sword. Drillers in the area could get hurt, but oil output could slow. I don't have time now to look for news on this, but any insights would be useful. Oil is down a couple of cents this morning. The charts for many of the drillers and service companies look like we have found a near-term bottom and could move higher -- but the general market and oil prices could be the key to whether and when. I am now looking to increase my long positions in the sector.