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I listened to the conference call the other day. Talk was of a shift
from North America to forgien markets and longer period contracts. In
addition BHI made a point of stressing their policy of improving contract prices ("fair value").

The oil majors (and others) are scrambling to reactivate exploration infastructure after the mergers of '98 and '99. I believe that exploration will remain strong as long as the price of oil remains above about $20 / bbl. I think the prospects for this stock are good for the next year or two.

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