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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: SliderOnTheBlack who wrote (28566)8/29/1998 12:10:00 AM
From: Elmer  Read Replies (2) of 95453
 
IMHO, next week will be a good week for OS stocks: (1) Offshore Data Services reported late Friday that the GOM offshore rig count rose an unexpected 6 rigs last week bringing utilization up to 83.3% from 80.3% last week. (2) Also, on late Friday, BHI reported the rig count in the U.S. increased by 19 rigs. (3) We have had two very good petroleum inventory reports the last two weeks and if we have another one on Tuesday, people will start to realize we are actually doing a good job working down the inventory overhang. (4) August OPEC data should show improved OPEC compliance. (5) Traders will realize that the possibility of Russia exporting more oil is very remote. (6) There is evidence that rig and service prices have bottomed because many producers are now locking up idle rigs to take advantage of the lower costs and to meet their production goals. (7) Everyone and their brother has now reduced estimates to very conservative levels. (8) The shareholder base in OS stocks should now be more heavily in the hands of longer-term oriented value investors. (9) On any parameter possible, valuations are compelling. (10) Slider is going to go on CNBC and tell everybody about the once-in-a-lifetime opportunity available for OS investors.

Have a Good Weekend Everybody,

Elmer
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