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

To: Ken Robbins who wrote (27380)8/8/1998 3:55:00 PM
From: upanddown  Respond to of 95453
 
From the rig count data......

One rig owner announced the cancellation of a Gulf of Mexico drilling contract that would have
employed a new deepwater drillship that is under construction in Europe. The rig owner canceled
the drilling contract with the oil company's cooperation due to continued cost overruns and delays in delivery of the new vessel. A joint contract to build and manage the rig also was canceled, and the remaining partner is seeking alternate opportunities for the hull, which reportedly is about 20 percent complete.

Anyone know the rig owner ?

TIA,
John




To: Ken Robbins who wrote (27380)8/8/1998 4:39:00 PM
From: James F. Hopkins  Respond to of 95453
 
Ken; thanks, and based on that I'd wait to see the count move up
before I got into the drilling or service sector.
Over the years most of the time the buyers of these stocks,
are late coming in , and also late getting out.
I was telling every one who would listen in 96 to jump on them
I went negative when Asia went down. I've been wanting to slip
back in, but still think it might be to soon. I nibbled on
TDW several weeks ago, but sold right back out.
Jim


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