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: hdrjr who wrote (82709)	12/26/2000 2:46:24 PM
From: The Ox	Read Replies (3) of 95453

Well, at least someone is buying! $25/oil and $4/NG was 'dream' territory a while back. I have to believe that there are plenty of bargains left in the patch. Most of us expect NG prices to back off substantially over the next few months. The wild card here is that a 'normal' winter will draw down NG storage to a new low by spring. While the number of rigs drilling for new sources continues to grow, we've yet to see NG stocks replenish at a rate high enough to build sufficient storage for next winter. What if we have a cold winter? What happens when it appears that NG storage levels MIGHT not be enough to last? I see lots of reasons to take profits. I also see lots of reasons to buy those companies that are in a position to benefit from 2001....the crisis. I added to a few positions early this morning.

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