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: Deca Row who wrote (25138)	7/5/1998 3:55:00 PM
From: Chas	Read Replies (1) of 95453

Bourgeois: Thanks for the repost of the Advocate article about Louisiana's economy. It confirms what is readily visible here in the oil patch. This may not be the bottom, but we will hopefully all look back on the current time as an excellent buying opportunity. Some things I am sure of: 1. Demand for oil will increase. 2. Oil prices will recover. 3. Oil reserves must continually be replenished. 4. The Middle-East region will remain unstable. I tend to agree with those who project an oil supply shortage in future years. However, I (and many others) have learned a valuable lesson about investing in oil drillers/service stocks: in spite of strong fundamentals, the market will punish these stocks on real or perceived oil price weakness. I believe this punishment is irrational, but the next time I will do like LT and others, bailing out until the smoke clears. This time, I am long waiting for the bounce. Good Luck, Chas

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