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 (73942)	9/20/2000 12:22:53 PM
From: Sharp_End_Of_Drill	Read Replies (3) of 95453

Just my 2 cents. I would be very careful thinking about shorting ENE and EPG. EPG after the merger with Coastal is primarily a pipeline, storage, and gas gathering & production company. Their trading is a relatively small part of their business. Their telecom aspects via running fiber optic cables down their pipelines gives them a pseudo-tech flavor, and I believe their broadband trading will be just as profitable as their energy trading. ENE is the grand-daddy of trading all things commodity. They also have exceptionally clever people doing their hedging and trading activities. These guys play the stock market long and short as well as their trading - in my estimate an extremely smart company. Painting all companies that use the gain on sale accounting as short candidates is very risky in my opinion. Comparing them to sub-par lenders is ridiculous (duh - I lost money lending to deadbeats... well you deserved it). I would tread very carefully on this issue. Sharp

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