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I'm pretty much in the same position as you. I believe that BHI will peak at somewhere between $50 and $55 It may hold above $50 (or certainly above $45) for about 12 months or so. I think it will then fall slowly to the mid to upper $30s.

For the duration of the '90s exploration has been depressed, occasional periods of activity not withstanding. This has been made worse by the oil company mergers which were all about production. This means that there is now a significant short fall in new production comming on line. BHI and others are having difficulty meating present demand. This situation will last for about 18 to 24 months. After that the heat will be off althoufh the exploration market will reamin bouyant.

I'm looking around for other stock which are likely to double in a 12 month period, as BHI has done. Until I can find one BHI remains a good parking spot with some upside potential an little downside risk.

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