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: Bazmataz who wrote (23621)	6/8/1998 1:21:00 PM
From: marc chatman	Read Replies (1) of 95453

<<Anyone want to vote for "Best Value" in this sector?eom>> Short anything would seem top be the answer. I posted last week that as we approached the delivery date for July contracts, and there being no place to stash the oil, the contract price would drop like a rock. I just didn't expect it to be this far, this fast. I haven't checked, but I'd bet much longer term contracts haven't fared as poorly. A lot of good that does us. I guess I'm not alone in having lost so much money so fast. Has anyone heard any news about equipment orders being cancelled? Because the equipment guys seem to be faring at least as bad, if not worse, than the drillers.

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