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Gold/Mining/Energy : Big Dog's Boom Boom Room

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To: Ed Ajootian who wrote (28783)	1/6/2004 6:21:33 PM
From: quehubo	Read Replies (1) of 206299

Ed - You can say what you like. Earlier you were considering shorting PTEN around $27 if I recall correctly. Since you have been on this board for sometime, one would expect that you would make informed comments stocks many of us are heavily invested in. The RIG counts are sitting at their highest level of the cycle up so far this week. What has been changed substantially is that as a result of steep production declines E&P's must drill more and more each year just to maintain the same production. There are many E&P's, but there are only two land drillers that dominate the land drilling market. In 2004 the E&P's will have to decide how bad that want to deliver more gas into a $5-6 market. Because the price inflection point for land drillers is not far from here.

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