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

To: Captain James T. Kirk who wrote (45897)	6/4/1999 10:26:00 AM
From: Gary Burton	Read Replies (1) \| Respond to of 95453

MRL should be trading at about 75% of GLM based on 2000eps. SSB guesstimates that MRL will have eps of 47c in 2000 if the 700 is re-leased at $130,000 vs current $165,000 contract rate..TSC says that the current mkt rate for the 700 is about $85,000-130,000/day so maybe we would see $100,000, which would mean the 47c would then be lower...By comparison, SSB guesstimates that GLM will earn 70c in 2000....So-o-o..weighing the risks of the 700 (both coming in allright by july15 and not), I would put MRL's 'fair value' at about $11 in today's market based on GLM at $14.63..my 2c