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

To: Chuzzlewit who wrote (23444)	6/5/1998 12:57:00 AM
From: Douglas V. Fant	Read Replies (1) \| Respond to of 95453

Chuz, Exacto-mundo! For RDC and ESV (and a few others) their rigs are bought and paid for. Except for debt incurred to expand that fleet or upgrade rigs, the companies are producing a goodly cashflow- which gives them lots of options business wise- and also probably makes them takeover targets. (And remember that RDC used its cash flow to retire a significant amount of debt early last year). I am assuming that that is the real (hidden) reason that the ESV announced a share buyback this week...... Well let's see if we have any follow through buying tomorrow, and whether we are out of this corrective phase... Sincerely, Doug F.