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: SliderOnTheBlack who wrote (33074)	12/18/1998 12:20:00 AM
From: Gottfried	Read Replies (3) of 95453

Slider, you are right to make up your own mind without help from the media. I rummaged through some newspaper clippings today and found a Nov 11.97 IBD article on the drillers. Under OUTLOOK it said "Stable prices, firm demand and ever lower finding costs are giving producers ample reason to seek the reserves they'll need to meet expected demand and replace or bolster stocks". Under RISKS the only item was "ensuring drillers have adequate crews to staff rigs." At the time of publication OSX was just beginning to descend from the peak. I even remember the article being discussed here [with approval]. On Nov 8.1997 > IBD weekend review 24 of the 28 stocks in the graphic review were from this sector.< Message 2672202 Nov 10.1997: Thean got suspicious Message 2687549 Nov 11.1997 >Guest analyst on CNBC Taking Stock just said that they have a target price on NBR of $75-$80, that its earnings should get to $3.15 (I think). Very positive comments like "through the roof." < Message 2693748 Nov 9.1997 Kevin Simpson from Merryl Lynch (who ever that is) was on Fox News Sat talking about Oil stocks: Drillers are the palce to be. Likes HAL short-term and NE for 18 months. He also mentioned Santa Fe International. Message 2679249 Nov 8.1997 Excitement!! A must reading for everyone. Monday's IBD industry snapshot is on the oil drillers. Entirely positive article excellently written which should provide a renewed push to oil drillers on Monday. Interesting upside--overbuilding of offshore fleet not likely over next five years. Interesting downside--finding adequate staffing for rigs. Message 2673371 Just a few days later OSX started its descend Slider, we could do worse than go back and read those Nov.'97 posts as a warning that the media are not here to help us profit! Gottfried I bought some SLB on 12/4/98 and am looking to add more soon.

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