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Gold/Mining/Energy : PetroQuest Energy, Inc (PQUE and T.PQU)
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To: Dave M who wrote (304)4/10/1999 11:04:00 AM
From: andrew r harwood  Read Replies (1) of 686
 
with the price of both oil and more importantly natural gas having risen significantly over the last few weeks this should have a profound effect on petroquest .im surprised really that it hasnt jumped up with all the good news .i think its a sleeper that very few people know about.its based in lafayatte but for reasons not clear to me its not even listed amongst the local stocks in the lafayette daily advertiser.for example ocean which is absolutely weighed down with debt has come back from a low of around 4 to the 7 level and lots of the local drilling stocks like global industries have had a big run though it will be quite a long time of these prices before the local oil industry will believe that the market has turned the corner and start drilling again ,so in my opinion the recent rise in oil service stocks is overdone since i cant see thier profits improving for at least a year .i dont think rig rates have shown any improvement yet they went from 55000 a day down to around 25000$ per day currently .the compsanies that should benefit the most are little companies like petroquest with good production and as far as i know no hedging and little debt.i think it will be a long time before ocean works its way out of its debt hole but at least with the oil prices improving it reduces its chances of going bust .just my personal opinion of course .arh
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