Strictly: Drilling and oil-field services Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Strictly: Drilling and oil-field services

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Gameboy who wrote (28315)	8/25/1998 5:37:00 PM
From: Chas	Read Replies (2) of 95453

Re: Minerals Management Service Gulf Lease Sale It will be interesting to see what happens with the Gulf lease sale. The strong results last year really spiked the OS stocks. Mavis said expectations were not too high for this one, However, oil companies must replenish/find new reserves. You would think this activity would need to occur somewhat independently of short term crude prices. I don't think we need a record sale here, but it would help if the sale comes in moderately strong. Could prove that the oil drillers/service cos will have future work after all. If it is very weak, I expect to see another 5/10% fall (or worse). I don't have a clue which way it will go. It is disappointing to see the hits some of the stocks took to day in spite of the steady/moderately up crude prices. This has really been something, and I have learned some painful lessons. Good luck, Chas

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next