Strictly: Drilling and oil-field services Message Board

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

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To: pz who wrote (32132)	11/25/1998 2:27:00 PM
From: Crimson Ghost	Read Replies (1) of 95453

Major oil companies surging today on takeover speculation. Soon OSX too methinks. Wednesday November 25, 1:56 pm Eastern Time Mobil stock surges amid renewed takeover talk NEW YORK, Nov 25 (Reuters) - Shares of Mobil Corp. (NYSE:MOB - news) rose more than 5 percent Wednesday amid renewed rumors that the company might be a takeover target, analysts said. Active trading in Mobil options also drew attention, they said. At 1351 EST/1851 GMT Mobil shares were up 4-5/16 to 79-1/4 after hitting a high of 79-5/8. Volume was more than 2.7 million shares. A spokesman for Mobil said the company did not comment on market rumors. One analyst said Mobil was being linked with the usual list of suspects -- Chevron Corp. (NYSE:CHV - news), Atlantic Richfield Co. (NYSE:ARC - news) and Exxon Corp. (NYSE:XON - news). ''There are the usual takeover rumors,'' said Fadel Gheit at Fahnestock & Co. Mobil, based in Fairfax, Va., has been the subject of merger speculation for some time; the talk has intensified since British Petroleum Co. Plc (quote from Yahoo! UK & Ireland: BP.L) agreed to buy Amoco Corp. (NYSE:AN - news). Chevron stock also sparked higher, adding 1-7/8 to 81-1/2, and ARCO added 1-3/16 to 66-3/16. The wider market was lower.

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