Lundin Oil (LOILY, LOILB Sweden) Message Board

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Gold/Mining/Energy : Lundin Oil (LOILY, LOILB Sweden)

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To: Timelord who wrote (644)	6/29/1998 7:37:00 PM
From: Greywolf	Read Replies (1) of 2742

Alex, As far as OPEC's production cut backs go I would think it would take somewhere between 3-6 months before we see any real effect. That is if they now are true to their word, yet I belive more now than before that they are. Venezuela is in the throws of pre-elections and because of this it is sinking fast as an economy as the price of oil has been used as an election promise - gone terribly wrong. The list of countries in dire trouble is as long as OPEC member list. This time it is national economics at play and that weighs heavily in reductions favour. That the market is out to lunch as far as oil goes is not so strange when you think about it. How many "gurus" thought the reductions would be nil or far less than expected? More than enough red faces are now sitting at their desks trying to put together a good face saving reason to suggest investment in something they said 2 weeks ago was a dead horse bound for the meat market. Lundin as you say seems to be caught in an unlucky loop, as soon as there is news on the horizon something else bogs the stock price down. One has to remember that the stock went from the low teens to well above 60kronor on pure speculation. Now that we know all about Libya, Malaysia etc the stock price dies. Yet this is the weird an wonderful world of commodities, at least in some stocks related to that field. I can understand that American investors are a bit apprehensive when it comes to Libya but you have to recall that most of the oil industry in the US is built on companies that did business in places few would touch with a ten foot cattle prod. Stay with the stock and the philosophy behind it. Lundin may be a lot of hot gas at stock holder meetings and put more into his role as a showman than serious company representation. Yet when it comes down to brass tacks the man is hard as nails. The Greywolf site just came to be but it seems a few are interested in the stuff put on it so I will try to include more commodities and info about companies in the sector. Later mate, Greywolf

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