REPOST: HEADER:GREAT DD BY TIM.P. INVESTORS MUST READ.
THANX.TIM
Bill,
For what it's worth, my rambling two cents again:
Many thanks to the folks who responded wisely the last two days (ICVI
#'s 11448 & 11555, Lee Walsh's posts, Minspel, etc.). The way the
leading board members responded by posting facts coupled with the
research sources was impressive and revealed great character.
In reference to Lee's "emotional investor" post - everybody wants to
make a million, but unfortunately it demands discipline and vision -
rare qualities. Discipline is required for performing the preliminary
DD, riding out the storms, and for not profiting too soon. Vision is
required for understanding the business concept/plans and how it
interacts or will be affected by future events (OPEC, etc.). Most
important, visualizing better times during bleak or dull periods is
critical. Human nature tends to float between panic and greed, so to
be successful in this endeavor were all committed to, especially during
the rough periods - you gotta maintain discipline and visualize like
alot folks on this board did. Certainly, this is no place for weenies.
IMHO, it seems like AXXS was involved in a fraudulent short-term play
on MTEI. If AXXS, in particular S.D., had any previous credibility
or current value, Mr. White and some hired guns would most-likely be
on the offense with damaging legal action. Fortunately for us and
AXXS, he has better things to do with his time and most-likely does
not want to dignify their garbage. I checked out AXXS and it seems
like that was par for their course.
Also, for what it's worth, my two cents on current events that I
think are significant to us:
1)On June 9, 1998 CIBC Oppenheimer upgraded 4 oil drilling platform
companies to either a buy or a strong buy - Diamond Offshore (DO),
Marine Drilling (MDCO), Noble Drilling (NE) and Transocean Offshore
(RIG). This helps MTEI alot. But today, Deutcshe Bank reiterated
it's negative stance on oil stocks (IMHO - they'll be doing a 180
before August because I think their opinion is based on
shortsightedness pertaining to currently cheap oil);
2)El Nino's little sister, "La Nina" (a growing gigantic body of cold
Pacific Ocean water) appears to be for real. Some meteorologists are
speculating that it could trigger a very cold 1998-99 winter for North
America; colder temperatures = more fuel needed = more value added to
MTEI;
3)Here in California, it looks like the offshore oil drilling ban that
expires in two years will be extended (Californians favor it 3 to 1).
The ban is actually on new platforms along the entire U.S. West
Coast,extending 200 miles offshore. Related to this, worldwide focus
on saving the oceans is being spotlighted right now in Monterey Bay.
IMHO, this all points to secondary recovery of terrestrial oil
reserves and coal mining becoming more important; and
4) The June 24th OPEC meeting is still on. IMHO, I think they mean it
this time about production cutbacks. From what I see, the OPEC
economy's have really had limited growth the last 6-7 years, while the
U.S. and some European economies aided by cheap fuel have flourished
considerably. In their eyes, their missing out and can improve their
margins by cooperating among themselves. Also, I would bet that the
big U.S. oil companies are viewing this as an potential opportunity to
raise their margins.
Bill, once again, my thanks to all for hanging tough, displaying great
character, and providing all the newly listed information. I'm still
very bullish on this company and a keeper for long-term.
Sincerely,
Tim
P.S. - Could you also remind everyone to read those previously
mentioned articles in Scientific American as part of their DD ? (March
1998 & June 1998). Thx. |
