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

To: Raven who wrote (28613)	8/31/1998 10:07:00 AM
From: Chas	Read Replies (1) \| Respond to of 95453

Alice: I don't know what to make of this. I assumed BHI was just slowing down the capital expenditure until business levels improve. However, all of these stocks are cheap enough to see several mergers/acquisitions. I will be surprised if we don't see several. (VRC looks like a good candidate, just a gut feel) (long VRC) Good luck, Chas

To: Raven who wrote (28613)	8/31/1998 12:53:00 PM
From: Paul Angell	Read Replies (2) \| Respond to of 95453

Alice, There have been many rumors about BHI. The last significant on IMO was that SLB were going after them. I picked up a bunch of BHI and have sat on it to this day. The shares started to melt before this sector did when BHI went after Western Atlas. This was probably a defensive play because the FTC would never let SLB have BHI without requiring divestiture of Atlas. They also picked up some debt to ward off other predators. Now BHI should be a good long term play. They are the biggest directional drilling company now after seizing Drilex and they have a lead on completions when compared to EVI. HAL have got some high tech completions but they do not have the diversity or reputation that BHI has. Now that BHI has Atlas they should increase their market share with CT drilling, horizontal well surveillance among others. In fact I would be not surprised to see BHI merge with one of the excellent drilling companies that have had their stocks beaten up recently. The trick is to find out which one. Another rumor I picked up recently in the oilfield is that SII are a takeover candidate. I don't own their stock yetbut I'm thinking seriously about it. Paul.