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

To: Alski who wrote (30917)	10/20/1998 1:04:00 AM
From: William L. Oppenheim	Respond to of 95453

With PR releases, I generally look for the unspun news. Since I own FLC, I am really on your side, and yes, it was a little low. Wonder how others feel about press releases. Because they come from a PR department which is paid for by the company, the type of news that an investor needs is hard to find in such places. That is why if I find bad news, it really is news (they say it is old news), and at times it gives me more faith in the rest of what they have to say. If I think it is hidden away, I have less faith. I would like to ignore the bad and only pay attention to the good, but that doesn't seem to help the bottom line much.

To: Alski who wrote (30917)	10/20/1998 1:39:00 AM
From: SliderOnTheBlack	Respond to of 95453

<<Deepwater exploration trebles in three years, analysts say>> ...how 'bout some good news to look forward to ! October 13, 1998 <<Wells spudded in water depths greater than 1,640 feet totaled 70 in 1996, 125 in 1997 and is projected to reach 200 in 1998, a near trebling in three years, according to UK analysts Smith Rea Energy Analysts. About 63 percent of the deep water wells were drilled in the U.S. Gulf of Mexico. Market predictions suggest this upward trend is likely to continue over the short to medium-term, the analysts said. Angola is now leading West African exploration into unexplored ultra deep water greater than 9,843 feet. Smith Rea also said a number of other countries are preparing to test their deep water regions for the first time. By the end of 2000, nearly 60 newbuilds/converted rigs will expand this specialized sector of the rig market by nearly 70 percent.>> .... the oilpatch is NOT coming to an end anytime soon; even though it may fell like it is of late. What the hell happened to crude prices today - why ? 2 Pipelines bombed - no major statistical news and down - ? .80 cents ? comments as to why ? PS; agree that FLC's new longterm contracts at strong rates - far overshadowed the Charge for the refurb debacle... FLC's CEO is pounding the table on $4.00 per share in 2 years - I believe him ! Normal PE's in deepwater in a positive crude enviroment are 18; 18 X $4.00 = $72 ... with $18-20 Oil in late 2000 perhaps...<VBG>.