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To: iandiareii who wrote (43072)	4/23/1999 7:58:00 AM
From: marc chatman	Read Replies (1) \| Respond to of 95453

Ian, thanks for reporting on the RIG cc. I agree with you that RIG's strategy of stacking while holding out for better rates is the best bet. For months, I have raised the question as to how RIG would handle the semis coming off long-term contract, and I felt earnings visibility would be clouded until we learned the answer. For that reason, I have avoided a heavy investment in RIG. It seems we now know the answer, so I would be very comfortable buying more RIG, especially on any substantial pull-backs. Now, the question is whether others will follow the same strategy. I suppose some will and some won't. But, if enough hold firm, we could see day rates move faster than expected.