MARKET TALK: Market Unhappy With Lifting Of Drilling Ban, Focus On Uncertainties

22nd Jun 2010 20:10

[Dow Jones] The market is reacting negatively to a federal judge's decision in Louisiana to lift a six-month moratorium drilling in the Gulf of Mexico because although companies may be able to resume drilling soon it is still uncertain under what rules they will be operating, says Fadel Gheit, analyst at Oppenheimer & Co. "They could go back to drill in the deepwater, but investors still wondering if they can do it in a safe manner and at a reasonable cost." The federal government imposed the moratorium after Transocean Ltd's (RIG) Deepwater Horizon rig exploded and sank in April, unleashing one of the largest offshore spills in U.S. history. Call us at (713) 547-9207 or email [email protected] (END) Dow Jones Newswires June 22, 2010 15:10 ET (19:10 GMT)