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: The Perfect Hedge who wrote (9806)	1/26/1998 11:27:00 PM
From: Lucretius	Read Replies (2) of 95453

As you know I have been sitting on my hands during this latest downturn except for a few buys of NE at extremely depressed prices a few weeks ago. However, I plan on buying across the board over the next two weeks. I've decided to branch out from NE (still my favorite) and plan on putting a substantial portion of my portfolio into oil & gas. I'm also looking for any depressed independent E&P co's (SFR, etc.) or combo E&P and driller such as UNT. If anyone has any suggestions (driller--think I know most of these but you never know--, E&P, oil service), I'd appreciate them. Please include why you believe they will stand out from pack. I will include them in the names that I will send to my brokerage staff for them to research. Can't guarantee that Goldman will cover all of them, but the I'll certainly reply w/ whatever I hear. I believe we are seeing a buying opportunity of the century today in anything that is remotely related to oil & gas. Think about it: will things ever be any worse for oil? We have one the mildest winters in history. Asia collapses similar to our great depression. OPEC increases production to full capacity. It doesn't get any worse w/out a small nuclear war going on in Europe at the same time. We closed today up on strong short covering at $17 WTI and that's March. Months out futures are much higher. Only Iraq is left. After that, no new supply unless it is drilled for. Need I say more. Thanks. -Lucretius

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