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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Richard Nehrboss who wrote (52503)10/6/1999 7:52:00 PM
From: sportsman  Read Replies (1) of 95453
 
Richard,
Merril Lynch today stated the field is worth $6.50 a share based on 100 million barrels of oil base threshold. I think until further drilling and testing is done it is too early to tell. Their estimate could prove to be low. I read a SSB report that stated their Columbian field to be worth $10-12 a share. OIL also has the Thailand gas field that will be producing in about a year. All in all, OIL shares still present very good value even after today, but so do so many other E&P's. I will continue to hold my shares bought around 12 1/2 until we see know just how large this new find is.
Good luck,
Sportsman
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