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

To: ChanceIs who wrote (45917)	6/4/1999 3:25:00 PM
From: paul feldman	Respond to of 95453

To: ChanceIs who wrote (45917)	6/5/1999 6:54:00 AM
From: Aggie	Read Replies (1) \| Respond to of 95453

Chancels, howdy, Don't forget that the planning cycle is generally quite a bit longer when you're talking about the North Sea and Europe. Because of the (generally) higher capital expenses associated with the environment, you will find many companies partnering up in joint operating ventures. This makes things feasible from a commercial sense, but from the practical side it means division of tasks into committees and the associated delays. Aside from this, I can tell you that the pace is definitely slower in Europe's offices. Come into the office after 17:30 on weekdays or on the weekends at any time and you'll find them virtually empty. I suspect that the decline in this market will be both shallower in scope and broader across time that that observed in the U.S. J.M.H.O. - but after all, our (U.S.) rig counts have just recently plumbed depths not seen since before the Big One. Regards, Aggie