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To: Gator II who wrote (380)	5/21/1998 4:09:00 PM
From: Thean	Read Replies (2) \| Respond to of 14427

Gator, Yes PKD was my introduction to the drillers. In fact it was introduced from a call from a Bear Stern broker who got my name from the internet. Well, that was fall of 1996. Since then, I have only traded PKD once sometimes in 1997. As far as their fundies go, the Parker family is doing the right thing is divesting some of the far out business and focusing on drilling, both land and lately offshore. However, since their PE was artificially jacked up since the fall of 96, it took them almost 1 1/2 years to work their high PE off. And now today they are back at the same price as in fall of 96 which means it produces nothing other than agony if one actually holds on that long. In today's environment where the land rigs are still under tremendous pressure PKD will suffer along with other drillers. However, I do notice their PE is now in par with other drillers, in fact cheaper than most land drillers if we consider forward PE. It depends on your strategy, Gator. If you are comfortable holding it here for another 6 months, I can say the company is not going bankcrupt. Hopefully, by then the oil glut will be reduced. But some may argue 6 months is too short considering the slowness of Asia recovery. Shorter term there can always be a bounce and if you sell it you may want to buy it back cheaper. But no one knows if it will get cheaper for sure. I think it will but that is only me. It may help if you think about what are you going to do with the money if you sell now. If parking those money in money market makes you feel better then by all means do so. If you are more of a gambler then you may want to use the proceed to buy something else (non-driller) and hope for some recovery there. If you hold on then you need to be patient and should consider 1 year a reasonable waiting period. The drillers are breaking down technically as we speak. That is not good sign. As far as I'm concerned we are heading into the second U of a W. It took almost 6 months to complete the first U. Will it take 6 months, shorter or longer? That is anybody's guess. All IMO.