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 (64434)	4/13/2000 9:09:00 AM
From: chowder	Read Replies (2) of 95453

Big Bull, I'm puzzled! Hi Bull! A man's got to do, what a man's got to do. I don't blame you for protecting profits. I'm still fully invested however and some margin. Your comments about going 70% cash got me to thinking. What has me puzzled, is this; why are institutions selling off E&P's in the face of incredible fundamentals? When was the last time April gas was above $3? In spite of a mild winter, inventories are at historical lows for this time of year and on top of this, NG demand is expected to outgrow current supply, aided by the use of gas powered turbines. Enron and Alberta Energy just came out with blow-out numbers and I would assume they'll be a lot more of the E&P's showing good numbers. As an ancient ruler once said, "this is a puzzlement to me." -------------------------------------------------- I find it hard to believe that we see another interest rate hike anytime soon. If there ever was a sign to indicate to government to "keep hands off", then this recent drop in the market speaks volumes to me. Greenspan's intent was to slow the economy, he very well may have done more than that. ------------------------------------------------- Do you think yesterday's action regarding the down day for GLM, while most of the OSX was up, is an indication of GLM's upcoming earnings report? I know their day-rates in the GOM and utilization rate weren't as good as originally anticipated. ---------------------------------------------- A side note to those commenting on GW. GW's greatest asset going forward is their personnel. GW kept their key personnel during the last down cycle as opposed to laying them off. They bit the bullet in anticipation of having a large number of their rigs going to work and they needed qualified personnel to do that. If nothing else, GW management deserves a "kudo" for looking out for their people. ..... Salute! dabum

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