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

To: Timelord who wrote (23210)	6/1/1998 7:48:00 PM
From: Broken_Clock	Respond to of 95453

TL....RIG is by far the safest play for a driller IMO. I like the Norwegian ownership, too. FGII....I am not convinced that FGII can weather a slowdown as well as VRC. FGII has bitten off some huges bites(Canadian yard) and needs lots of contracts to make those FUTURE projections. As long as FGII meets expectations then the higher multiples should hang around....BUT, if some contracts get "delayed, etc." then investor confidence is a little harder to restore. HAL seems like a safe play, too, although the upside may not be there long term.

To: Timelord who wrote (23210)	6/1/1998 9:25:00 PM
From: JHR	Respond to of 95453

TL the DO rigs in for work and inspection is old news and factored into their estimates I'm sure. They made quite a point of it when they announced 4Q earnings. It struck me that they were sounding a warning and I switched into RIG. We had a discussion of it at that time on the thread and Big Dog was of the opinion that this is business as usual, All the drillers have to have them inspected and it causes planned downtime. The number just seemed unusally high to me and hence my switch. I doubt that its a big deal.