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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Thomas M. who wrote (16394)3/24/1998 9:45:00 PM
From: 007  Read Replies (1) of 95453
 
I hope you didn't interpret my post as meaning that oil prices need to be rising for these stocks to be rising.

For lasting appreciation of a driller, the outlook for crude oil prices needs to be such that it is likely that oil companies will continue in the long-term to demand that driller's services. The oil companies' decision comes down to the expected profitability on the probable reserves found from the drilling activity. This will always depend in part on the anticipated price of the commodity at the time it is expected to be available for sale. Anything that causes that anticipated price to be higher will increase demand for the driller and also have a bullish effect on the driller's stock.
007

PS Don't take my word for it, ask Mr. Market.
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