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

To: P.Prazeres who wrote (23670)	6/9/1998 1:19:00 AM
From: pz	Read Replies (1) \| Respond to of 95453

June 5 - June 12, 1998 Offshore rig count unchanged, but dayrates under pressure offshore-data.com HOUSTON: The worldwide offshore rig count is unchanged from last week, according to Offshore Data Services' weekly mobile offshore rig count. This week, 578 of the world's 609 mobile offshore drilling rigs are under contract. Worldwide offshore rig utilization is 94.9 percent. In the U.S. Gulf of Mexico, 166 of 173 mobile offshore drilling rigs are under contract. U.S. Gulf of Mexico rig utilization is 96.0 percent. One rig left European waters to work in another area, and today the European offshore rig fleet totals 112 rigs. Of these, 108 are under contract. European offshore rig utilization is 96.4 percent. Continuing low oil prices are impacting oil companies' drilling programs, and as a consequence, offshore drilling rig day rates (the rate an oil company pays to employ a drilling unit), particularly in the Gulf of Mexico, are under downward pressure. Dayrates for some jackup rigs in the Gulf have fallen by as much as $8,000. Less substantial declines in dayrates have been noted in isolated cases in other rig markets. However, some rigs are entering new contracts in many areas at improved rates.

To: P.Prazeres who wrote (23670)	6/9/1998 1:31:00 AM
From: Lee Fredrickson	Read Replies (1) \| Respond to of 95453

Paulo- I agree with you in spirit and principle. As a guy who's here to learn a little bit about investing before retirement, (<H>, you lucky rascal!) I'm more interested in learning fundamentals than short-term trading. But since there's so much to learn here, and so many willing to share, it's tough to not check in at least daily. But damn, it sure makes it difficult not to get swept up in the trading attitude of 'What has XYZ Seismic done for me this week?' If I didn't enjoy the mental challenge of this pursuit so much, and relish the 'quasi-family camaraderie' of this thread as much as I do, I think I'd take your advice one step further and just split my poke up between FSESX and FSELX and let it ride.......maybe taking up a little more of the one diversion that you didn't mention that's also great exercise and a lot of fun. [Honey...have you seen a bottle of little blue pills around?] Sometimes I have to work all day and then work all night too. You're right, the next day I mostly sleep, without spending any time 'checking my nets.' And you know what....those stocks do what they're going to, whether I'm paying attention or not. I'm in RIG, MIND, & DRQ. Don't see the need for crude going away very fast or very soon. Patience will out, it just hurts when you use it. <H> Keep us apprised of your experiences. What are you going to be writing? Would love to myself, but it's scarier than the Oil Patch by quite a ways. Lee

To: P.Prazeres who wrote (23670)	6/9/1998 3:18:00 AM
From: Chuzzlewit	Read Replies (2) \| Respond to of 95453

Paulo, I did that a week ago, and look where it got us. This mess is probably all my fault. If I don't watch closely the bottom falls out of the market. (I am also becoming a strong believer in sympathetic magic. I am filling balloons with helium. Each balloon has the name of a driller or service company imprinted on it.) My puling has metamorphosed into loud wailing and gnashing of teeth. But I will not sell. The fundamentals are there. Are we the only sane inhabitants of a mad world? TTFN, CTC