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

To: Linkdog who wrote (44872)	5/17/1999 2:14:00 PM
From: Aggie	Read Replies (1) \| Respond to of 95453

Pardon the stupid question - Why would R&B be in a hurry to sell out in the bottom third of the cycle when things have turned around? Can their debt structure be so onerous that they don't feel they can weather the next 3 quarters? My own impression was one of fairly solid, if heavily leveraged, short term financial ground. I cruised the R&B exhibit at OTC, and it was very clubby - muted lighting, great scale models, and cocktails at 5:00 sharp, with all staffers present and looking like Wall Street. This is R&B through and through. Managers have golf trophies on their desks instead of chromed drillbits. This operational distance is one of the things that makes R&B so hard to deal with in day-to-day ops, for guys like me. Anyway - what's the take on the sale, surely there are no other contractors who could afford to absorb R&B. Does anyone think that R&B may be reverting to their old ways of running rigs for absentee investor landlords? Long on R&B, Good Luck to all Aggie