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: The Ox who wrote (65437)	4/28/2000 10:19:00 AM
From: jim_p	Read Replies (3) of 95453

After reviewing the earnings to date, I would still be a buyer in the larger cap E&P's of SFS, APA and OEI. APA is the clear winner with a 43% rate of growth in production (through the drill bit), annualized cash flow of 1.2 billion (4.50 per share) and a strong balance sheet. SFS would be second with a growth rate of 63% (through acquisitions), selling at 3.22 times annualized cash flow per share and a strong balance sheet. OEI would be third with a growth rate of 22% (through acquisitions), selling at 3.75 times annualized cash flow and a much improved balance sheet. In the smaller caps BSNX is the winner with a growth rate of 16% (through the drill bit), selling at 2.70 times annualized cash flow, having a strong balance sheet, and great exploration potential for their size. A big hit for a company the size of BSNX playing in the deep waters of the Gulf could be a company maker, with very little down side risk. Still waiting to see NBL's numbers, they don't give much information in their press releases. Jim

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