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Gold/Mining/Energy : Ensco International Inc. (ESV) -- Ignore unavailable to you. Want to Upgrade?

To: upanddown who wrote (1433)	8/25/1998 8:17:00 PM
From: Gottfried	Read Replies (1) \| Respond to of 2005

John, "Firm bets on oil industry comeback" (found on drillers thread) api.org excerpt One of the energy industry's best-known outside investors this time around has been Richard Rainwater of Fort Worth. Though not familiar with the Coho particulars, Rainwater praised the Hicks, Muse strategy. He, too, is hunting for oil-industry acquisitions, having already bought some shares and some oil futures. In a television interview a year ago, he said that he would relish the prospect of $12 to $13 energy prices if it created opportunities. "Now what's happened is people like Hicks, Muse who are pretty smart investors are taking advantage of it," he said Monday. Though Rainwater's energy companies have fallen in recent months, he still has substantial long-term gains. The Rainwater case for higher oil prices is based on growing global demand -- which has been slowed by Asia's economic turmoil -- and limited resources. In the Hicks, Muse outlook, low prices will force oil production cutbacks, especially in the United States, with rising demand then likewise leading to higher prices. GM