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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: SliderOnTheBlack who wrote (59930)2/8/2000 2:50:00 PM
From: Winkman777  Read Replies (1) of 95453
 
>>Chevron at analyst meeting pops the Oil bubble - says $18 crude is coming<<

The think the Shell CEO said essentially the same thing about a couple months ago. This is the conservative way for them to play the game. In the meantime APA and the like will continue to expand.

There may indeed be better buying opportunities before the March OPEC meeting. BUT IMHO OPEC wants to and will be able to keep WTI crude at $25 (average or maybe minimum). The majors holding off on a large increase in drilling will help OPEC.

I nibbled on FLC today, but am otherwise holding. Have a lot of margin left.

Good luck and take care all. Winkman
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