Big Dog's Boom Boom Room Message Board

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

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To: Ed Ajootian who wrote (73325)	10/15/2006 9:25:17 AM
From: John Carragher	Read Replies (2) of 206184

i believe xom went their own way during 80's vs rest of oil industry and they made the right management buy outs. i am foggy if it was buy out existing known reserves vs drill or the other way around. all the article says is everyone is paying top dollar right now for off shore deep oil drilling rigs. and i believe xom said they will wait and rent them at half the price in a year or two. figure xom got some talented folks in the industry and feel confident their can wait or have enough reserves to hold them and support continue operations while they go to alternatives if necessary.

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