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: Jeffrey Beckman who wrote (49331)	8/14/1999 7:28:00 PM
From: William JH	Read Replies (1) of 95453

Tesoro is primarily a refiner, with operations in Washington State, Alaska, and Hawaii. Their E & P operations have been put up for sale. Company says they want to concentrate on refining and marine services. TSO is benefiting from the fact that their competitors pipeline from Anacortes, Wa., blew up a few months ago, killing 4 people. I recently read that this pipeline may not be reopened before the end of this year. Airlines have been requested to, as far as is possible, to send their airplanes into Seattle with enough fuel to leave without refueling there, due to the shortages caused by the explosion. They recently reported Q2 earnings of $.76 per share, way - way above estimates. Tosco and Arco, whose operations use the damaged pipeline, are reduced to using barges to ship their product. TSO is my largest holding, FWIW.

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