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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: upanddown who wrote (85819)1/31/2001 9:55:48 PM
From: Think4Yourself   of 95453
 
Regarding declining earnings comps, what you say makes sense but I agree that prior quarter comparisons are not appropriate (that's as nicely as I can put it).

I pretty much did the same thing you did. took a look at some E&P's this evening. First looked at last 4 quarter's earnings, last year of NG prices, and hedges. Then I looked at futures strip and projected forward earnings. No person with brain activity could conclude YOY comparisons would be declining until at least Q4.

Then, just for grins, I looked at debt levels and shares outstanding then and now. Very pleasing results.
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