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

To: SargeK who wrote (39429)	3/10/1999 8:55:00 AM
From: Big Dog	Respond to of 95453

TravelDog reporting live from Tulsa, home of Parker Drilling. I have a 5-6 hour visit with top mgmt of PKD yesterday. I am encouraged that they have a firm handle on the situation and are takling positive steps to "batten down". They are cutting spending to th bone, consolidating offices (saves $8 mm/year), and looking to sell selected "non-core" assets. FWIW, There was a large institutional holder (who owned as much as 15% of PKD) who has been liqudating its PKD and general sector positions, reportedly because they became nervous of term contract cancellations. (Can't say that I blame them.) This PKD overhang is either all done, or is very close to being done. This may relieve some selling pressure on PKD and allow it to bump up a bit...just a thought. Good luck with the market today..I'll be a FlyDog. big loosbrock.com