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

To: Big Dog who wrote (26814)	7/31/1998 1:58:00 PM
From: tdl4138	Read Replies (1) \| Respond to of 95453

Hey Big Dog, What is the "break even" dayrate for companies like MDCO? In other words...at what point is it cheaper to stack the rig?

To: Big Dog who wrote (26814)	7/31/1998 2:00:00 PM
From: SliderOnTheBlack	Read Replies (3) \| Respond to of 95453

Big Dog...Jackup rates Good point for buying equipment makers vs. Drillers. Only Rig and PDE were on my driller list currently; unless we see another 20% sell off on FLC, DO, CDG from here... I am seeing the silver lining in the lower dayrates by buying some shallow water - natural gas oriented E&P companies. The lower dayrates are NOT a reason for buying here, but are ''icing on the cake'' as even if we only see a quarter of these low, low rates it will make a bottom line impact on these E&P companies (small cap here not the majors) in the coming quarters. ...dead money is a valid point; I am 12-36 month oriented or longer. Don't mean to be to glib in the face of the patch's decimation. I have some losses but have moved more money here and am not averaging down so much as establishing some new positions and now have 50% in E&P small-mid caps. ...just got some oil patch plugs by an analyst on CNBC , but is the world listening? - come on DOW ---correct allready !!! 7500 ! Chin up men.....we will overcome ! ....that RIG party had better happen !

To: Big Dog who wrote (26814)	7/31/1998 2:57:00 PM
From: Gator II	Read Replies (2) \| Respond to of 95453

Big...I don't post very often but I've just got to say something. There's a reason why most portfolio managers, reputable pundits/analysts, and other various and sundry movers and shakers DON'T invest in their areas of expertise. What is it? Well, face it, having your own money on the line can emotionally affect one's reasoning. Ask yourself, if you didn't have a dime invested in this sector, would you be as down as you are today? Wouldn't you be suggesting that NOW may very well be the time to take a position and look for reasonable gains from here forward and that they should occur within a reasonable time frame? Yesterday the sector looked hot for most of the day and today, well, what can one say? After all, it's Friday. FACT: Big, you ARE a mover and shaker! Take a step back and compartmentalize your thoughts and see if you really are as hesitant about the medium term as you sound today. Sorry, if I've overstepped but I think you are just a little down, that's all. Next week, things will be better. If not, well there's the following week. We ARE talking weeks or at worse months and NOT years, IMHO, on an absolutely worst case basis. Gator II