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

To: Harold S. who wrote (45909)	6/4/1999 1:11:00 PM
From: Gary Burton	Read Replies (1) \| Respond to of 95453

Harold--fwiw--My trading software is targeting 11 for low on MRL. On a wave count it is near the end of 3, with a 4-5 to come to complete the dip.So, I may be buying in the low 11's----Relative to the package of GLM,ESV,RDC and NE, It would appear that MRL would be 'fairly valued' at approx 11.50 based on today's trading in the other stocks-that is neither a great deal compared to the others or a lousy deal..If one goes back and compares the ratios of closes when the stocks were at their highs in 97, again midway during the drop in mid jan98 and finally at the lows in early99, one arrives at approx 11.50 average relative to the others...So, assuming the others do not drop furthur, I'd like to pick up MRL near 11...I say 'like' as it may not get there

To: Harold S. who wrote (45909)	6/7/1999 1:23:00 AM
From: Jerry Rockwell	Read Replies (1) \| Respond to of 95453

Yes there certainly is a lot of attention to the 700. Of course, 300+ million is difficult to ignore as lost (guaranteed) income. It's not to say it will never work. Most likely it would probably just work for Exxon at a lower rate. But, Interesting article in the New Orleans Sunday money section of May 16th discussed the apparent comeback of the oil industry. Good part of the article mentioned that the companies oriented around Natural Gas would be especially successful since we are more dependent on our own resources for that than abroad. 25% of our daily gas needs come from the Shallow waters of the Gulf. Much of the gas production has been shut in during the last belt tightening. "As a result, many expect shallow-water oriented oilfield service companies will be among the first to recover. ...... expects strong stock performances from a number of companies that supply rigs and rig personnel to this sector, including Rowan Companies Inc., Marine Drilling Companies Inc. and Ensco International Inc. MRL's strong point is in their shallow water jack ups. Really I don't see how you can go wrong here. It's just a matter of how long it takes to happen. What if it takes 3 years to get back to 30. Let's see that's still more than 30% compound annual return. Not a .com but I feel MRL could make it. Better than bonds. Just a little. I think it's a good company. Hope I'm right. Trying to ignore the short term and hoping the price holds along with a world recovery. Gotta have that oil. Regards, Rocky