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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Douglas V. Fant who wrote (50009)8/29/1999 12:40:00 PM
From: enervestor  Read Replies (1) of 95453
 
Doug, enjoy reading your posts, especially as my father-in-law worked for Mobil for forty years and spent much of them in the Midland-Hobbs area. I am a long-term investor and understand the fundamentals of the land vs shallow vs deep-water drillers. I was just musing about other investors and whether one should buy the deep-drillers now or wait until the earnings accelerate. They will ultimately see the highest prices of all the drillers, but IMHO are overpriced right now and vulnerable to a correction. I'm just hoping for a better entry point when the timeline to an improvement in the fundamentals is nearer at hand. Also, I was speculating on whether the investors who had run their prices up actually knew about their coming earnings decline, or were just momentum players buying the oil drillers as long as crude prices were increasing. What do the rest of you think?
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