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

To: Douglas V. Fant who wrote (22293)	5/18/1998 5:21:00 PM
From: Broken_Clock	Read Replies (1) \| Respond to of 95453

Doug....looking at various charts, I would say today was mixed. SDC & DO both had block selling into strength at the end. Some want in and some want out. Oil action will dictate tomorrow along with AG & the FED. I am thinking we go down some more. PTEN is a land driller and $14 oil can't be good for earnings. OTThere was selective action in the precious metals tho....Hecla(HL) has a 500k buyer at support today. Thats a silver/gold play. Looks like there is still inflation fear out there. ASL is a little talked about senior gold producer and it had a block buyer today also.

To: Douglas V. Fant who wrote (22293)	5/18/1998 9:04:00 PM
From: marc chatman	Read Replies (1) \| Respond to of 95453

Doug, thanks for the news. I posted a question a few days ago regarding where the rigs were located. I thought maybe Kalimantan or Sulawesi. Right thought, wrong island. Of course, I understood that there was also some trouble in Medan, though not nearly to the extent of Jakarta. 007: Typically, an event of force majeure (such as war, civil unrest or act of God) will relieve the parties to the contract from their obligations, which means the oil company would not have to pay the driller. One of my former partners does some oil and gas law in Indonesia, but I just learned that he's holed up in a Bali hotel until things cool off, so I can't reach him to confirm the point. I don't think that's an important issue, though. I agree with your first observation that the MDCO rig is well out of harm's way. I sold my MDCO after earnings because I felt this quarter would have to be revised down. At these levels, MDCO is very tempting.