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

To: Think4Yourself who wrote (36314)	1/30/1999 12:41:00 PM
From: John Carpenter	Read Replies (1) \| Respond to of 95453

Yes, these companies are not the companies of '86. So, they probably won't lose another 2/3 of their value(except for the ones that go under this time) But there is substantial risk on the downside from today's prices(which many call bottoms). Certainly SLB at $30 or RIG at $15 are not out of the question. Some of the estimate cuts have been enormous(i.e. RIG, ESV) If oil doesn't recover until 2003, SLB could stay in a trading range around $30 and RIG around $15 for a very long time. Even though the companies are in better financial shape this time, the integrated oils are more hell bent then ever on cutting E&P expenses.