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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: BeachBum who wrote (74708)9/26/2000 7:23:41 PM
From: sportsman  Read Replies (1) of 95453
 
BB,
OEI is my second largest holding in the energy sector behind OIL. I believe there are two factors holding the stock back: 1. They have a lot of production hedged at very low prices 2. Their production has been falling
That said, I like the value. It is trading a nice cash flow multiple and they have executed well on paying down debt. They have two large discoveries in the GOM (Nansen and Boomvang) that will begin production in early 2002. Also and most important to me is they are drilling two or three exploratory wells in the next few months that could possibly be huge.
Good luck,
Sportsman
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