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

To: Broken_Clock who wrote (25419)	7/9/1998 5:29:00 PM
From: marc chatman	Read Replies (1) \| Respond to of 95453

PK, we also have several posts from our own insider, Big Dog, saying something to the effect that the people in the industry are very, very concerned. Maybe I recall that incorrectly or misunderstood. I also hate to hang my hopes on things such as speculation about a possible cold winter, or the possibility that OPEC will, after having failed previously, succeed in driving oil prices up. No, I prefer to rely on more tangible matters such as huge order backlogs for drilling equipment. That's turned out to be a brilliant strategy. In retrospect, I probably would have lost less by continuing to hold onto the drillers which have been suffering lower dayrates and rig utilization, than by placing my bet with the likes of FGII, VRC and EVI.