Strictly: Oil and Gas Exploration Companies Message Board

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Gold/Mining/Energy : Strictly: Oil and Gas Exploration Companies

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To: JBINWC who wrote (54)	9/24/1998 10:20:00 AM
From: Kerm Yerman	Read Replies (1) of 318

JBINWC / Bears Stern Article Thanks For the post. When did the interview take place. Would like to see price of oil stabilize at this level, but I think we will see one more stage of weakness. Thus far this year (thru August), NYMEX WTI@Cushing has averaged $14.92/bbl. The American Petroleum Institute reported a sharp drop of 9.1 million barrels in the week ended September 18 and that's encouraging. Also supporting current pricing is the siege underway in the Gulf of Mexico by hurricanes. The real solution for a better oil pricing environment is improvement in the world economy, especially the Far East. Growing industrial development in this area will put pressure on oil prices to the upside. This certainly won't happen overnight. For those of you who have not visited the locations I mentioned in the prior message from me, take the time to visit us, you might find the information interesting.

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