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Strategies & Market Trends : Strictly: Drilling II
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To: Art Bechhoefer who wrote (29592)3/18/2003 11:22:40 PM
From: terry richardson  Read Replies (1) of 36161
 
Art:

CHK looks a bit pricey with its P/E around 48. I was thinking that the word is out pretty much about the gas producers already but GLBL and HOFF are waiting for the upturn in the Gulf which I would have thought will have to come. But I have to do some DD. I thought someone here might be watching them too. I seem to remember HOFF getting plugged pretty heavily on its way up in 99-2000.

I had UCL in my portfolio back in 99-2000 and got frustrated with it. I seem to recall it had a low p/e but wouldn't move when the others did, it was the low p/e which attracted me. Got into it when Slider made what he called a no-brainer call "margin a major" It worked on most of the others and to a neophyte investor it made so much sense and was at the time so obvious but sometimes you just have to have the pie in your face before you see it.

If I remember correctly a lot was blamed at the time on its pipeline problems in Colombia which someone pointed out lately is nicknamed the flute due to the number of holes the FARC have blown in it. However the patent situation is something I had forgotten and I'll get back up to speed with it.

Wish I'd held on to Cross Timbers (XTO now) to which I owe someone on this board a drink at least but back then a 2 bagger in the course of about a year was the best investment I'd made in my life and I didn't want to lose it.

Regards

T.
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