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

To: Big Dog who wrote (43116)	4/23/1999 1:07:00 PM
From: stevedhu	Respond to of 95453

Big Dog, in the for what it's worth sector, the last time OIL was above $18.00 the OSX was at 120, and that was in April of 98, before the big sell off Take Care Steve

To: Big Dog who wrote (43116)	4/23/1999 1:27:00 PM
From: IndioBlues	Read Replies (1) \| Respond to of 95453

FWIW ... dayrates may have a ways to go on the downside. One plausible scenario: e&p's start letting bids out in next 4-5 mos. with drillers, some of whom have idle or stacked rigs and all of whom desperately need cash flow. Drillers cut one another's throats for the work. DO, RIG, NE "pass" on lowball dayrates. Next tier drillers can't afford to. Result? first move up in rig activity further depresses day rates ensuring survival of successful bidders leading to increased desperation of unsuccessful bidders for initial contracts. Maybe another window for consolidation?