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

To: SliderOnTheBlack who wrote (23923)	6/13/1998 1:51:00 AM
From: Douglas V. Fant	Respond to of 95453

Slider, I do not own any deepwater drillers. I chase "value" in ESV, RDC, and EVI. So I do not follow the deep water drillers closely. But I will note that developing deepwater prospects are long term projects. Unless oil goes to $9/bbl for a medium weight crude and sits there for 9-12 months, do not expect deepwater projects to be cancelled. And deepwater concessions are being let all over the world now.... My guess is that deepwater activities should continue at a brisk pace for at least the next five-ten years given the projects already on the books.... Sincerely, Doug F.