Strictly: Drilling and oil-field services Message Board

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Gold/Mining/Energy : Strictly: Drilling and oil-field services

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To: Razorbak who wrote (48370)	7/23/1999 7:24:00 AM
From: SliderOnTheBlack	Read Replies (2) of 95453

< Falcon Peregrine III Seizure... give me a leeettle credit?> Razor; lean on FLC - get that short parade marching & get it down to about $7 1/2 - so I can comfortably buy some call's & then we'll give you all the credit !!! John C; Earnings estimates were taken down late in the quarter; imho, all these companies did was to accurately guide the analysts... with these PE ratio's here - these are no longer value plays in many cases. As crude has no fundamental short term drivers to take it measureably higher; I think it has seen a top here. With a vacumn of good fundamental news (ie: rig counts, dayrates, earnings, new orders etc) I think that vacumn will be filled will bad news; at least the negative spin we've been seeing of late on everything from OPEC compliance having ''peaked'', to the leaks of Nigeria & Venezeula pushing for higher production etc... Could be a slow 45-60 days here... the Honorable George C. Cole aside (VBG) - my money is still on OSX 66-68ish as a bottom here. I still see OSX 100 by the end of Q1 2000 & OSX 120 by the end of Q2 2000 - so a double in the next 12 mos. sectorwide... the recovery is here - just taking a little longer than people thought for the major Oils to open their pursestrings... fwiw; on any retracement in CRK, HSE, OEI, XTO, or UPR here - I'll be 100%+ invested and even using margin if these E&P's correct another 10-15% ish here... the fundamental drivers for the nat gas weighted small & mid caps are stronggggggggggggg. I see a double in CRK & 30-60% runs potentially by year end in HSE, OEI, XTO, UPR & MEXP... my E&P favs. I still do not see any overly compelling driller/service plays that match the risk/reward fundamental metrics of the E&P's. Only FLC on a real blow off... I'd love to pick up some cheeeeep $7 1/2 calls...

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