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: Tulvio Durand who wrote (15066)	3/17/1998 2:43:00 PM
From: Czechsinthemail	Read Replies (2) of 95453

Tulvio, Your point that falling oil prices will stimulate demand and ultimately increase production and the need for more production is well-taken--up to a point. On the positive side, it should help Asian economies get back in the saddle, and it depletes existing reserves at faster rather than slower rates. On the negative side, it crimps exploration budgets for the smaller E&P companies and it may present psychological hurdles around undertaking major projects. The "surprise" out of this wailing and gnashing of teeth period, is that the offshore drilling companies will continue to turn in extremely strong earnings. What we are seeing more than anything else is a projection of fear into the future. Since I know you're familiar with that from following CYMI, you know the territory. It makes for great opportunities for those with the patience and the bucks to buy when the prices are down and hang on. Baird

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