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Microcap & Penny Stocks : GW GREY WOLF -- Ignore unavailable to you. Want to Upgrade?

To: Jason Riche who wrote (299)	6/28/1998 8:01:00 PM
From: jim p. holcomb	Read Replies (1) \| Respond to of 444

Jason, The rig count is published every sunday in the Houston Chronicle. This is the time honored Baker-Hughes rig count. Watch Swift Energy. They are an aggressive Texas/Louisiana gas player and use a lot of GW rigs. They are proceeding with their exploration budget as if they realize that reserves must be replenised. I will try to post the rig activity every sunday as it appears. Thanks for your post on this thread and to Sue also. Jim.

To: Jason Riche who wrote (299)	6/28/1998 8:10:00 PM
From: MoneyPenny	Respond to of 444

The demand for oil world wide is down because of SEA economic crisis. Most of the storage areas for oil are already at capacity so there is less need temporarily for more oil. If you read back a week or so over at Strictly Drillers thread you will hear jokes about using people's swimming pools for the excess, etc. With the cost of crude so low at this point, it doesn't make sense to keep pumping at this time. This is only a short term problem but many have been caught unawares by the severity of it (too much reserves, low demand, cheating on cutbacks by OPEC, etc.). Just my simplified take on the situation.