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: Think4Yourself who wrote (51251)	9/16/1999 9:10:00 AM
From: Tomas	Read Replies (1) of 95453

Though oil prices have surged in the past few days, the shares of oil producers such as Lasmo Plc, Premier Oil Plc and British-Borneo Oil & Gas Plc have declined. Analysts said the weakness of these oil stocks is tangible evidence the oil price may tumble sometime soon. ``Nobody trading these equities really believes oil will stay at $23 a barrel. If they did, British-Borneo and the others would be soaring,' said Mark Redway, an analyst at Greig Middleton in London. ``But even if the oil price retrenches to $18 these companies are undervalued and can still make good profits.' Bloomberg Energy, September 16

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