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

To: JungleInvestor who wrote (36403)	2/1/1999 3:12:00 PM
From: Mike from La.	Respond to of 95453

Jungle, I don't know that there is an overall answer as to where money will flow first in a recovery. I think it depends on where the individual companies were when they cut. Some just acquired new leases, and will be looking at the initial stages and drilling, others may be going stronger into production of proved reserves. Also depends on their emphasis, shallow water vs deep vs land, etc. My guess, and that's all it is, is that all aspects of deep water will be the last to shut down, and the first to crank back up. One factor, the offshore leases have to have development work done within 10 years, or they lose their leases. The first of the deepwater leases come up for possible evocations in 2001. Mike from La.