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

To: MARK BARGER who wrote (26166)	7/22/1998 9:01:00 AM
From: david james	Respond to of 95453

Hey Mark, Probably most people on this thread have a better understanding of this industry than me, but I was surprised that some are predicting oil under $10. oil-gasoline.com However, since many of the big rig contracts can take over a year to complete, its hard to say what the impact will be if the prediction in that link comes true. American Eco's contracts for the Venezuelan rigs, for example, are to be completed at the end of 1999 just as the oil is price is forcasted to start recovering. Hopefully after the bond deal with Jefferies, they will provide coverage before too long. Although Jefferies has not been to positive on anything in the oil sector lately. But maybe they can push the issue of health of the natural gas industry in the north atlantic. David