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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: SliderOnTheBlack who wrote (42205)4/15/1999 12:24:00 AM
From: Douglas V. Fant  Read Replies (2) of 95453
 
Slider, I agree. Remember the PIRA Report I posted a few days ago. We may have a few fits and starts, but both oil and natural gas markets should tighten from here forward. Also note due to previous customer nominations expect OPEC compliance only to be in the 40-45% range this month.

I've been over watching mainly the E&P's today. Most "rolled over" late in the day- many near the tops of their current trading channels. Experience suggests that the E&P's should backtrack and retest the downside of their respective trading channels, but my instincts say to "hold on" to some of these shares and don't assume that we'll fall all the way back to the downsides in the E&P stocks again.

On gas sales contracts from talking with my gas sales buddies, I have noticed that buyers are offering larger premiums if you are willing to "lock in" your gas production out into the winter of 99-00. I'm just one person in one producing area- anyone else already seeing the same trend?

Also the "truth comes out" tonight about the air war in the Balkans- the US admits that it will go on for months likely. IMO that should push oil prices higher or maybe better stated help keep a floor under the prices....
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