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

To: mph who wrote (22239)	5/18/1998 6:54:00 PM
From: waverider	Read Replies (1) \| Respond to of 95453

>>I hope you weren't abducted by aliens whilst out there in the wild...<< No, just 6 fellow desert troopers. One did keep whispering "time the market, time the market, time the market" in my ear when I was taking a nap at high noon...or so said a friendly whiptail lizard. <H>

To: mph who wrote (22239)	5/18/1998 7:20:00 PM
From: Teddy	Read Replies (3) \| Respond to of 95453

NEWS Snip from Offshoredata: Forget those earnings growth projections. Time for new 52 week lows. 7. U.S. GULF: Gulf of Mexico drilling contractors are reporting continued softness in the jackup market. Global Marine President and CEO Bob Rose noted that day rates for 300-foot cantilever jackups have fallen approximately $10,000 since the beginning of the year. Rose believes the trend is temporary and will end when West Texas Intermediate oil prices return to the $17/barrel to $21/barrel range. U.S. Gulf drilling contractors also are starting to see the softness in the larger jackup market trickle down to medium size units. Some contracts have been signed for 250-foot independent-leg cantilever units at rates well below reported day rates of one month ago.