NATIONAL - OILWELL INC. (NOI) - undervalued/takeover ? Message Board

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Gold/Mining/Energy : NATIONAL - OILWELL INC. (NOI) - undervalued/takeover ?

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To: BILL L who wrote (17)	11/2/1998 10:52:00 AM
From: Richard B. Haenisch	Read Replies (1) of 44

GOOD MORNING EVERYONE! Just got back from Las Vegas (my once a month vacation). Nice move this morning for NOI and all other Oil equipment makers, due to a positive article in Barron's this weekend about Schlumberger: New York, Nov. (Reuters) - Schlumberger Ltd (NYSE: SLB) may be in the market to acquire a rival services firm now, that proves that petroleum assets are cheap, according to a report in the Nov. 2nd Barron's issue. Schlumberger, with about $4 billion in cash, may target Houston based Smith Institutional Inc. (NYSE: SII) "Oil and gas stocks are incredibly cheap if you can wait one or two years for the bounce back" says Wayne Nordberg, chairman of Keefe Bryette & Woods Assets Management, in the article. Schlumberger specializes in extracting oil from hard to reach places and protecting technology to get oil out of the ground fast and cheap. "A lot of easy oil has been found " said Schlumberger CEO Euan Barid in the article "the harder it gets the better it is for Schlumberger, because more technology is required." Mmmmmmh, I wonder what field National Oil is in ? Stay tuned...

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