Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Bazmataz who wrote (22889)	5/27/1998 12:13:00 PM
From: SliderOnTheBlack	Read Replies (1) \| Respond to of 95453

GLM's CEO Rose's comments were bullish overall... Seemed to emphasize the long term nature of deep water contracts, did mention slight weakness in shallow/transition zone for jack ups. Mentioned new ultra deep water rigs/drillships ($230 Million each) coming online; having been constructed based on long term contracts! Overall he stated earnings were not impacted as public sentiment has reflected. Also; basically killed any possibility of Sante Fe buying them out; buy saying it would be dillutive to both companies and NOT in the best interest for shareholders in either company, but however they were in an acquisitive mode to enhance shareholder value... Overall; in my opinion - a ''calming'' analysis that things are certainly not as bad as reflected by public sentiment. I have to believe that we will not retrace to March price levels. Media reports on the traditional summer driving season and OPECS June meeting will certainly have some positive reaction - only we may see some more damage in the next 3 weeks prior to OPEC's meeting.