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Strategies & Market Trends : Value Investing
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To: jeffbas who wrote (10080)2/28/2000 5:52:00 PM
From: Archie Meeties  Read Replies (2) of 78644
 
Jeffrey,

Did you get a chance to shift through T.BKP?

The long period of undervaluation of E&P companies will not last. Despite several quarters of good energy prices, the threat of OPEC capitulation and subsequent low energy prices has resulted in a prolonged period of market aversion to this sector. A catalyst for renewed confidence in the sector could be the March OPEC meeting. Sustained OPEC resolve will bring the entire sector back to normal valuations. Those demonstrating leadership in growth (such as BKP) will again trade at premiums.

Even the most admired firms have recently seen an inverse relationship between their valuation and the value of the product they produce. CHV, APA come to mind. The decline in their share price at a time of $30 oil is unusual - but also fortuitous for potential investors.

worldoil.com
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