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: SliderOnTheBlack who wrote (83205)	1/2/2001 11:03:25 AM
From: excardog	Read Replies (3) of 95453

SOTB Have enjoyed your contrarian posts of late but I take exception with your oil outlook. First off I agree and I am sure most all agree that $10 mcf gas is not here to stay. $5 for the next year on average seems fairly safe at this point. So lets stick with $5 gas. Where we diverge in our opinions is oil, I'm seeing oil rising back to the $30 and above range in the next few months. Therefore I have positioned my portfolio more heavily weighted to the oil side. Gas sales for many of the oil producers are a gift. Most are unhedged gas so this brief IMO dip in oil prices will be more than offset by the recent climb in gas prices. The oil names although considered big winners this past year "media wise" really have not had any where near the run of the gas names. So as everyone loads up on the Natural gas side, I'm trying to play the oils early. It appears OPEC will announce a cut, which should already be priced into the market when it comes. I will be paying attention to the next few weeks API's. They will be SPR less. I will leave you to your gold as I don't have an opinion on the yellow stuff but wish you luck with it. Sign me a "Beaver" believer Regards Scott

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