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

To: diana g who wrote (25530)	7/11/1998 7:54:00 PM
From: SliderOnTheBlack	Read Replies (3) \| Respond to of 95453

From the good old days...(remember when ?). ****this is a post from SI's RIG board from last fall after RIG's CEO appeared on CNBC. For a healthy perspective - go back and read these RIG posts from late 1996 to early 1997, and then to the fall of 1997 when the drillers took off... very interesting - you can all most time the market in advance by the ''tone'' of the posts and being a contrarion - it's amazingly accuarate. I like the day that RIG's call's jumped 80% in one day, off of news not unlike what FGII, SCSWF, CXIPY or SEI have announced recently - only to get an impotent market reaction here lately... ohhh the good old days. See what RIG's CEO says about supply demand ! - production must double in 10-12 years... and how prophetic were his $10 oil comments ? It's amazing what we can learn from the past... Transocean (RIG) \| Previous \| Next \| Respond \| To: Bob A Louie (23 ) From: Bob A Louie Monday, Oct 13 1997 8:48AM ET Reply # of 84 RIG CEO speaks: Say's they're building world's largest off-shore rig tough call between building or buying rigs value of assets has gone up substantially by 2010 production must increase by 60 million barrels per day to meet demand, to put in perspective, production was 72mil barrels per day last yr. offshore drilling in 1970 cont 16% to world's oil production now contributes 35%. 95% of increased production came from wells less than 600' deepwater has huge reserves does not anticipate rise in oil prices even if oil was $10 barrell deepwater drilling still justified.