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Gold/Mining/Energy : Global Santa Fe (GSF) (formerly Global Marine) -- Ignore unavailable to you. Want to Upgrade?

To: Tealby Abbey who wrote (785)	7/14/1998 11:37:00 AM
From: IN_GOD_I_TRUST	Respond to of 2282

biz.yahoo.com

To: Tealby Abbey who wrote (785)	7/14/1998 11:48:00 AM
From: SeanS	Read Replies (1) \| Respond to of 2282

Hi, I don't have a position either way right now. I did not expound well when I was attempting to caution that even seemingly cheap stocks can get a LOT cheaper, and GLM is certainly one of them. Oil rigs can be viewed as a commodity, such as hard drives are, and can be considered in oversupply with rapidly dropping prices just as other commodities are. I hate to sound like an old codger when I relate my past experience with GLM. Sure this is a different time. I believe that when ASIA climbs out of its slump, demand for oil and price will soar resulting in demand for rigs and escalating income and share price for GLM. Yes 16s seem like a good entry point. It may take a while to see any substantial returns however. If I personally was investing money I would probably take a small position now and wait for more developments such as sustained higher oil prices to commit more. Good Luck, Sean