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

To: Razorbak who wrote (37682)	2/17/1999 11:03:00 PM
From: Mike from La.	Read Replies (1) \| Respond to of 95453

for deepwater, besides the drillers, consider BWG (Bourgnes Offshore) and CXIPY (Coliflex). BWG's backlog is growing from their other projects, building LNG plants, and pipelines. Both do subsea construction in deepwater. They turn the wells into production. Drilling may slow down, put the push now is to move into production. They've been beaten up like the others, but are making good money, and pay dividends. Anyone want to guess when the speculators will start buying into the sector anticipating an OPEC agreement? I don't think there's any question but that if OPEC reaches an agreement these stocks will take off. That has to start attracting investors willing to take the chance. Maybe two weeks before the meeting? Mike from La.

To: Razorbak who wrote (37682)	2/18/1999 12:33:00 AM
From: A. Fineigler	Read Replies (1) \| Respond to of 95453

Razor, The quote below, from PGO, says that deep water E&P will be less adversely affected than shallow and onshore by upcoming capital spending reductions. Thus, deep water drillers like DO (and RIG) will likely be less adversely affected than others. This isn't to say they benefit from this environment, just that they suffer less. AF -------------------------------------------------- <<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.>> <<PGO, DO and RIG may be among the better bets in this sector going forward, if the above is correct.>> How does Diamond Offshore, a deepwater offshore driller, possibly benefit from either onshore or offshore marginal plays? Just curious. Razor