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

To: Heretic who wrote (42119)	4/13/1999 1:39:00 AM
From: Aggie	Read Replies (1) \| Respond to of 95453

heretic, good evening. No big surprises here. Everybody I talk to in the industry, from rigs to boats to choppers to drilling services to rock bits has pretty much written off this year as far as activity goes. If oil prices stabilize at $17 ++ (WTI) I look for the first flickerings of optimism to start with the bigger companies whose fiscal years start in August. There should be still more news of increases in E&P budgeting at the new year, but I don't expect the spending to manifest at the services level until the middle of Q2 '00. Until then I'll.... Hunker from the Bunker, Aggie.