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

To: VLAD who wrote (27925)	8/18/1998 3:42:00 AM
From: MonsieurGonzo	Read Replies (1) \| Respond to of 95453

RE:" Oil firms hail rouble move, commodities to benefit " >> biz.yahoo.com << It was BigOil that had to devalue the ruble, folks. Norway had to raise their interbank rates to defend the NOKroner last week, too. Check out their NHY to see another ridiculously low P/E. But the essence is this: as the article cited above suggests - few countries have enough hard currency to hire drilling equipment companies, even if they wanted to. Russia expects a reduction in capital equipment expenditures, though their BigOils will benefit. FWIW, I still see OSX.X ~55 as some kind of "level", though I was damn tempted today when SLB hit 51, for goodness sakes! -Steve