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To: SliderOnTheBlack who wrote (25309)	7/8/1998 12:17:00 PM
From: marc chatman	Respond to of 95453

<<shouldn't we be discounting ''storage/supply'' levels to a degree>> It's kind of hard to do this, in the near term at least. Storage seems to drive the front month futures contract as the delivery date approaches. And the front month futures contract is driving the stocks in this sector, at least until a base is formed. I agree with you on CXIPY and SCSWF. Very good long term prospects, and intuitively they seem like ideal acquisitions for the big service companies. I assume that to some extent the big service companies are already in this area, but I haven't researched it. Are the big service companies likely to grow their deep sea units internally, creating more capacity and competition for these two companies, or are they more likely to make a bid to acquire one or the other?