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

To: articwarrior who wrote (31331)	11/2/1998 2:06:00 AM
From: Paul Angell	Respond to of 95453

Arctic, Long term contracts are no more or no less than what they say. Most are 3yrs and this is a small timescale for savvy investors. We have one such contract with SLB and if necessary when times are dire we will make contract ammendments to survive this environment of low oil price. The important thing to note is that even though most companies can cut back they do not normally change suppliers, so that, in the upturn SLB is well positioned for a comeback. SLB is the leader of the pack. They offer the very best tools in exploration and production reservoir surveillance, drilling and well service work. They are also moving in great strides in the Coiled Tubing Drilling Market. They have a leadership position in this new technology for slimhole drilling which is beginning to encroach on the business of conventional rotary rigs for infill drilling in mature fields. Paul.