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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Big Dog who wrote (40267)3/18/1999 8:28:00 AM
From: marc chatman  Read Replies (1) of 95453
 
That's possibly the most encouraging fundamental news I've heard. Thanks for sharing it, Big Dog.

IMO, Simmons & Co. are keyed in better than any other oil analysts. (Someone I went to college with was with Simmons for awhile.)

Were his comments on depletion referring to oil only, or did you also discuss nat. gas?

On a different matter, I noticed that the GOM lease auction pretty much sucked, as expected. About $1 billion less than last year. My feeling is that shouldn't matter. At the last several auctions, the E&P's acquired enough blocks to keep them busy for years. And, perhaps, just as the record breaking auctions marked a top for the OS sector, the weak auction this year could have marked a 'you know what.'

BTW, 75% of the blocks auctioned were deep water.
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