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

To: Charles H. Waldron who wrote (30718)	10/14/1998 10:29:00 PM
From: Francois H. Gaston	Respond to of 95453

So much pessimism on this and other oil threads...I will behave contrarian and start to nibble at oil stocks...! Actually, many oil stocks may be forming a DOUBLE BOTTOM right now (PTEN, CDG, HAL, PKD... and those are not the only ones) Furthermore, some oil stocks are showing an UP trend in Relative Strength Index since July of this year (!)... and an occasional oil stock is even showing some accumulation (On Balance Volume)... mmmmmhhhh!... I cannot resist any longer... Bottoms are tough to catch. I cannot let a classic double bottom possibly form without speculating and collecting a few shares at these levels... And I cannot wait for El Nina to form and be recognized by everybody... Good luck to all. FHG PS: Individual Investor, Oct 1998... in list of "America's fastest growing companies (list of 100 names), we find CDG, PTEN, PKD, RIG, RDC, ATW, CDIS ....cool! iionline.com

To: Charles H. Waldron who wrote (30718)	10/14/1998 11:01:00 PM
From: Aggie	Read Replies (1) \| Respond to of 95453

Charles, hello. Nabors has a large land drilling fleet and a few offshore rigs. They are a strong drilling contractor in the land-based worldwide sector, I have used them many times and have been impressed with their professionalism. Their management is pretty shrewd. As with all land drillers, they are suffering mightily right now. During the boom, they poured a lot of money back into the company via rig purchases and upgrades, so they are in good position from an operational standpoint. During the last slowdown they were better than most at keeping their core staff. As for the fundamentals, I have not explored Nabors Industries. I lost interest in the company as an investment target about a year ago. Keep us posted! Good Luck, Aggie