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

To: Mike from La. who wrote (33266)	12/21/1998 1:57:00 PM
From: Platter	Respond to of 95453

From Briefing.com.....Abby Joseph Cohen says....: Goldman Sachs' highly followed strategist recommends drugs, banking and computer stocks; among computer stocks, she likes IBM (IBM 176 1/4 +4 11/16) and Sun Microsystems (SUNW 85 3/16 +2 1/2); with regards to the energy sector; feels that prices have bottomed.....

To: Mike from La. who wrote (33266)	12/21/1998 2:59:00 PM
From: ldo79	Read Replies (1) \| Respond to of 95453

Rig count increase. Mike / Doug 12/21 issue of GOM Newsletter, page 5, shows chart depicting last 23 months of drilling plans filed with MMS. November '98 shows ~ 150 plans filed. Highest #'s this year except for Feb., June & August. The Sept. & Oct. filings were around 75 each. That's a substantial increase. Regards.

To: Mike from La. who wrote (33266)	12/22/1998 1:20:00 AM
From: Douglas V. Fant	Respond to of 95453

Mike from La., The lease terms of OCS leases require some action by certain times in order to maintain an OCS lease. Also you must file with the MMS a plan for drillling and devloping your lease. It is a long process. So companies are loathe to shelve drilling plans that have gone through that permitting process. Also do not forget- natural gas prices are doing fine. Also I'm sure that gas prospects are being drilled. And now with a little cold weather we can test my thesis posited here about three months ago. Gas supplies are full. However, when the drawdown commences, I'm betting that deliverability is not enough to maintain the same levels of inventory in storage.... That is the collective opinion of my friends who work in gas trading and supplies at the likes of Enron, NGC, Duke Energy, all major traders of natural gas.... Sincerely, Doug F.