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Non-Tech : Invest / LTD
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To: SJS who wrote (3241)9/23/1998 12:28:00 PM
From: Lucretius  Read Replies (2) of 14427
 
Steve, just my opinion but although (as I said a couple weeks ago) the drillers should and are getting a nice rally, it should be sold into. L-T oil prices should remian flat ove the next year as the drop in the dollar is offset by the slowing economies of US, Europe, and S. America. OPEC will also likely increase supply every time the price pushes up above $16. Drillers need around $18 to $20 to grow earnings, otherwise they sit w/ PE's around 8x THE PREVIOUS YEAR. and that's assuming their earnings won't shrink.
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