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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: marc chatman who wrote (26016)7/20/1998 8:11:00 AM
From: sand wedge  Read Replies (1) of 95453
 
Mavis discusses oil services this morning. One interesting excerpt:

Toward the end of 1997, it looked as if oil service stocks no longer traded with commodity prices. The equipment market for drilling and services had grown tight, and demand for crude oil looked as if it was outrunning supply. But Gustafson says -- and two other money managers interviewed for this article who asked to remain anonymous agree -- "the analysts had it wrong. The companies had it wrong, too. It's been frustrating to listen to these guys. It doesn't mean they're not smart, it doesn't mean they don't know their business, but it's been a disappointment to all investors who have paid attention to oil service analysts."

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