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: BigBull who wrote (59868)	2/7/2000 5:06:00 PM
From: SargeK	Read Replies (3) of 95453

Street Advisor Sees Substantial Increase in Global Exploration Expenditures "Key producers such as Saudi Arabia, Norway, Mexico and Venezuela have said they believe prices higher than $30 would have adverse consequences on global economic growth. We believe these producers are focused on stable prices, not market share, and are targeting oil prices in the $20 to $25 price range. As investors and oil companies gain confidence that OPEC producers can allocate production increases at the March 27 meeting so as to match rising demand for oil, we believe exploration expenditures on a worldwide basis will increase substantially. Shares of these energy companies are likely to appreciate in anticipation of higher profits from this projected exploration boom. We reiterate purchase recommendations for long-term investors on price weakness, as shown in the table below, and recommend short-term investors continue an opportunistic trading strategy." Ticker Price 2/4/00 Target Price Gain % OIL PRODUCERS: Atlantic Richfield ARC 69.00 $84.00 22% Chevron CHV 79.00 $110.00 39% Occidental Petroleum OXY 19.50 $35.00 79% Texaco TX 51.00 $75.00 47% ENERGY SERVICE: BakerHughes BHI 22.38 $35.00 56% CooperCameron CAM 49.75 $75.00 51% Friede Goldman Halter FGH 6.00 $20.00 233% Halliburton HAL 36.63 $55.00 50% Marine Drilling MRL 19.50 $35.00 79% Nabors Industries NBR 30.75 $45.00 46% Rowan Companies RDC 22.75 $35.00 54% Schlumberger SLB 59.63 $75.00 26% streetadvisor.com There appears to be a potential 3 bagger in the above group! >g<

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