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: marc chatman who wrote (28112)	8/21/1998 1:02:00 PM
From: SliderOnTheBlack	Read Replies (2) of 95453

marc; let me add - the ''bet'' here is on $8-$10 Oil or not.... With Russia's collapse, Venezuela's troubles/devaluation and the rest of the World's precarious financial position - let alone the dire straights that the individual OPEC countries are in financially; and very importantly with fundamental zealot uprisings in the Middle East, India/Pakistan nuclear testing etc. - The World's powers (USA) will NOT let Oil go to $8-10; it could not bear the fall out in this current situation - War, blockades etc. would happen - imho. There is simply no substantial downside risk imho. We are at a decade low - stocks now at 2-3 year lows in many cases and some E&P stocks near 6 and even 10 year lows - selling at 1 1/2 times cash flow and 1/2 - 3/4's of book value - we have pure proven reserve asset sale levels in some cases very near... I am a player in this scenario - We may not see another like it in 20 years !

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