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

To: JimNewby who wrote (27658)	8/13/1998 4:25:00 PM
From: Joseph Beltran	Read Replies (1) \| Respond to of 95453

The action in this market seems to be telling us that one or more defaults are in the making. my take: russia, indonesia, s.korea. two out the three will default in the near term.

To: JimNewby who wrote (27658)	8/13/1998 4:32:00 PM
From: Starlight	Read Replies (2) \| Respond to of 95453

I heard someone on CNBC near market close say that nearterm, oil would stay at about $14 -- in October it might go as high as $14.80. Also, last night one of the news magazine shows on TV did a feature on drilling for oil in the Caspian Sea. A number of exploration companies are there -- however, the big drawback to finding oil there is that the Caspian Sea is "landlocked", and to get oil out of the region, a pipeline would have to be laid through possibly Iran. Other alternatives (through other countries) would not be feasible due to our hostile relations with them. My question is: Why are U.S. companies looking for oil in the Caspian Sea when the world seems to have a glut of oil, and the Caspian Sea situation would present transport problems?

To: JimNewby who wrote (27658)	8/13/1998 4:34:00 PM
From: BOGEY	Read Replies (1) \| Respond to of 95453

That 700,000 shares on DO was on a downtick at 26 1/2...Regards

To: JimNewby who wrote (27658)	8/14/1998 1:20:00 AM
From: SliderOnTheBlack	Respond to of 95453

RE: DO and deep drillers selling off... As mentioned in the media some of the energy sector funds have been facing strong redemptions - these sector funds have to just ''dump'' due to a redemption run... This is a primary factor in RIG, DO, NE having not responded like the shallow drillers had on last weeks rebound. The funds had all ready unloaded drillers with heavy jackup exposure, DO & RIG were some of the biggest holdings in the energy funds. - FGII perhaps as well. It's good to see the volume blow out in DO & RIG. The sector looks to be in a basing mode here - which is not all bad. I know I was getting tired of those 2,3,5,1,2,3,% down days that didn't seem to end...