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: Aggie who wrote (76569)	10/17/2000 7:24:22 PM
From: Ronald J. Clark	Read Replies (1) of 95453

How are most E&Ps priced right now in terms of oil and gas prices? While it certainly isn't $2.00/MCF gas, it likewise isn't >$5.00/MCF gas. Another issue, of course, is the debt reduction/balance sheet repair which is occurring as a result of current oil and gas prices and the long tern impact those cleaner balance sheets will have on the decent E&Ps(growing production with an inventory of good prospects) even with lower oil and gas prices. Finally, the universe of stocks which investors can choose from will be full of tech and communications stocks with declining or substantially slowing growth rates which have been priced in the last year or so for perfection. Maybe the future of oil and gas exploration stocks isn't so bleak after all even assuming a drop to $22/bbl oil (anyone remember $10/bbl oil not so long ago). Comments?

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