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

To: Big Dog who wrote (32867)	12/15/1998 9:05:00 PM
From: CHIP HUNTER	Respond to of 95453

R&B Falcon Announces Drilling Contract on RBS8D HOUSTON, Dec. 14 /PRNewswire/ -- R&B Falcon Corporation (NYSE: FLC - news) reported today that it had entered into a contract with Vastar Resources, Inc. (NYSE: VRI - news) for the provision of a new generation dynamically positioned semi-submersible drilling rig, the ''RBS8D.'' The contract was entered into pursuant to the previously announced letter of intent between the parties. The contract has a primary term of three years at an operating dayrate of $199,950 with five one-year options. In addition, Vastar may elect to extend the primary term to five years, in which case the dayrate would be between $189,200 and $199,200, depending upon when the primary term is extended, with three one-year options. I wonder if this news will be bullish for FLC tomm??

To: Big Dog who wrote (32867)	12/15/1998 11:32:00 PM
From: Douglas V. Fant	Respond to of 95453

Big Dog, That is a good price comparison is it not? And oil products go so many places- benzene and xylene into paints, ethylene and aromatics into polyethylene for containers, wrappers, heart valves, artificial joints, toys,etc., fibers like polyester and polyproylene into clothing and all plastic packaging, all sulfa-based drugs, cosmetics, lipstick, any wax-type/chewy candy, gasoline, heating oil, jet fuel, diesel fuel, bunker fuel, asphalt for roads, motor oil, greases, air-fuel weaponry, lubricants, toluene into glues, adhesives, solvents, and on and on..... Also after reading the note on Reagan and Saudi Arabia in the 80's (I always thought that Pres Reagan was damn sharp!) I wonder if there is a current deal between Saudi Arabia and the Clinton Administration. The American action in the Gulf war gave us tremendous credbility in the Arab Gulf. The Arab Gulf countries never deep down in their hearts really believed that the US would shed American blood in order to protect their friends in the Gulf. But when called we came- and we fought. Today if you go to the Gulf expect to be treated really well as an American....The local fundamentalists won't like you but they are a minority.....Elsewhere America has real credibility. A simple proof of that fact is that most leading Gulf families who once sent their children to Europe to attend a foreign university, now send their children to US universities. So we are creating long-term positive ties in the Gulf.... Sincerely, Doug F.