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: John Carpenter who wrote (36312)	1/30/1999 12:32:00 PM
From: Think4Yourself	Read Replies (1) of 95453

I believe you are right about stock prices going lower, especially the "premier" companies like SLB. I disagree that it is valid to compare the present situation to the past. Here is why: 1. It is a totally different world, in favor of oil. We have consumers popping up out of nowhere all over the world. Asia, South America, China, all of which were insignificant consumers in most of the past 20 years. 2. Most of the older companies have learned their lessons. They have much lower debt, much higher cash levels, and much better management. Take GLM as an example. Many say they are in serious trouble, and they may be right. When someone claimed they would hit $4 like they were a few years ago, I looked into it. TOTALLY different company then. The person's claim was based on their memory, which was very faulty at remembering the financial condition of the company then. It was an irrelevant comparison. Check the numbers for yourself. I WOULD, however, recommend staying away from companies with high debt levels and/or low cash. These are likely the ones who will fail this year or next. Ken

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