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

To: upanddown who wrote (44709)	5/13/1999 8:17:00 PM
From: Wowzer	Read Replies (1) \| Respond to of 95453

I may be off base here but RIG's news doesn't really concern me. Short term it might hurt a little, maybe. But I don't know, this might have been the bad news the market was waiting for, if you can call it news. I knew going in that RIG's earnings would be weak near term. RIG's prospects look a hell of a lot better now then they did when oil was $11. Why do you say year 2000 looks bleak as well? According to the press release he declined to comment on analysts 2000 estimate. I say, Because he knows the consensus estimate of 1.85 is worthless. No one has a clue what what RIG's, or any other cyclical company's, earnings will be 18 to 24 months out, including the CEO. Like Big Dog says it is all the price of oil stupid. If oil is trading at or above $20 in year 2000 you really think you will be able to buy RIG at 27 or lower? Rory