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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: marc chatman who wrote (20970)5/1/1998 8:56:00 PM
From: Teddy  Read Replies (1) of 95453
 
Who is this "analyst at a New York hedge fund...[ that]...sold its
oil service holdings in the fall and until recently has been
uninterested in the group.

"If they decide to cut between half a million and a million
barrels incremental to what they already agreed upon," then
oil service stocks are poised for some real upside in prices,
says an analyst at a New York hedge fund. His fund sold its
oil service holdings in the fall and until recently has been
uninterested in the group.

What's the potential upside? In the deepwater arena, stocks
could climb as much as 30% from present levels, he says.
In the jackup market, where rigs drill in water depths up to
350 or 400 feet, it's anywhere from 20% to 40%. The
mid-cap service group could feasibly see share increases of
30% to 50%.

Conversely, if crude oil slips backs to the mid-$15-per-barrel
level, where it's languished since OPEC and non-OPEC
producers agreed to global production cuts back in March,
the downside risk to stock prices would depend on how long
crude stays in that range.



That is a strange quote coming from my pal Mavis: talking to Cramer? Who said she was on the take?

Wrong!

Great job Mavis! I'll remind Dave that you deserve another 30%.
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