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: waverider who wrote (7902)	1/13/1998 6:05:00 PM
From: Lucretius	Read Replies (1) of 95453

I keep seeing this said so I wanted to make sure everyone understands. "crude prices don't matter to the drillers AS LONG AS THEY REMAIN IN A CERTAIN RANGE" Anything below $15 and E&P co's start cutting back on exploration projects. Keep in mind that when I say crude prices. I don't mean spot prices so much as I do year-out futures. Good Luck longs. You will be rewarded, eventually, but don't look for the quick buck to come anytime soon. Lots of basing left to do before we begin breaking out to the upside again. -Lucretius

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