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

To: Fitz who wrote (37641)	2/17/1999 11:26:00 AM
From: Platter	Read Replies (1) \| Respond to of 95453

Oil moving up at 11.50, up 13 cents, OSX down .70...Fitz, MAJOR support for RIG right here..closest we got to this was around 23.62, Dec last Year....

To: Fitz who wrote (37641)	2/17/1999 12:38:00 PM
From: A. Fineigler	Read Replies (3) \| Respond to of 95453

From PGO's qtly report: "Overall oil and gas market conditions have deteriorated in 1999 and are now being compared by oil and gas company executives with the worst conditions the industry has ever embraced. The substantial reduction in hydrocarbon prices has reduced available cash flow for our smaller customers and has forced many of the larger industry players to refocus their exploration efforts to those areas where oil and gas can be found and developed for less than $10 per barrel. These low-cost areas are primarily in unexplored basins worldwide, with most opportunities located in deepwater environments. While overall exploration and production spending is now expected to decrease by 20% to 25% worldwide, the bulk of these capital spending reductions relate to onshore exploration and development activities and the development of marginal offshore fields. PGS' geophysical services group offers services that can be used to reduce exploration and development risk, to better evaluate exploration and development opportunities and to develop new exploration opportunities in unexplored basins. Customers can also use PGS' geophysical services to obtain a better understanding of existing reservoirs and to target the placement of gas and water injector wells in order to improve the overall hydrocarbon recovery rate. The Company's geophysical services -- from its high-technology, low-cost seismic acquisition services to its consulting and data management services -- are arguably increasingly valuable to an oil and gas company in the current market environment." PGO, DO and RIG may be among the better bets in this sector going forward, if the above is correct. AF