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

To: Gary Burton who wrote (44903)	5/18/1999 8:35:00 AM
From: Big Dog	Read Replies (2) \| Respond to of 95453

Mavis wrote a most excellent article. She is really doing a good job reporting on the industry. FWIW - PGO down 8+% in today's Oslo trading. big atoffshore.com

To: Gary Burton who wrote (44903)	5/18/1999 10:03:00 AM
From: Linkdog	Read Replies (1) \| Respond to of 95453

Re: The Street.com article I'm not sure this is new news to any of us. FLC is a highly levered company. A market upturn makes them look like gods - until then it looks like they have enough wherewithal to tread water. I still say this company is going to merge with a less leveraged partner which will result in the biggest (by far) driller with a manageable balance shhet. There is just too much speculation of a deal and with management publicly seeking a deal, I just have to think something will happen. Either way, alone or with a partner I think FLC will be fine in time: From the article: "Falcon's financial situation, coupled with its diverse, attractive drilling fleet, have added to speculation that it's a takeover target. Falcon's management indicates it's amenable to an offer -- at the right price. Shares of Falcon have doubled since February, to 10 1/2 Monday."

To: Gary Burton who wrote (44903)	5/18/1999 1:25:00 PM
From: Jacob Snyder	Respond to of 95453

Buying RIG on the way down. Limit order at 26 just cleared, adds to the shares I bought at 27 1/8. If the price hits 25, I'll double my current position. Don't see much downside below that. Lots of buyers step in at that price. I'm selling CSCO to buy RIG, because RIG's PE is about an order of magnitude smaller than CSCO's. When I bought CSCO (4/97), it was at a trailing PE of 30. Now, it's at a trailing PE of 84. All the oil producers are clearly saying they intend to keep prices in the 18-20 $/B range, and adjust production up or down to achieve this. They've (finally) shown the discipline to do what they say. When the market realises that these prices will be maintained, RIG will be at twice it's current price. I'll bet this happens sometime this year.