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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: Post_Patrol who wrote (46606)	6/17/1999 11:15:00 PM
From: Razorbak	Read Replies (2) \| Respond to of 95453

Where's your friend Slider? He must have quit while he was ahead. #reply-9419384 ;^)

To: Post_Patrol who wrote (46606)	6/17/1999 11:54:00 PM
From: IndioBlues	Read Replies (1) \| Respond to of 95453

Thinking a little like you, post. been picking up RIG 30s (Nov) and FLC 10s (sep) too. Got more of each than anyone with sense would have I'll tell you that. Who knows, I guess. Maybe it'll work out. Otherwise I'm out. Sold HAL and CAM incrementally over last few days. worked out ok I guess. Back in long on Gary's retracement. I'll look into PKD. Keep an eye on CAM -- I've been trading that hummer quite a bit. She flat out flies when OSX turns north. Tends to lag the sector on pull backs. Bueno Suerte

To: Post_Patrol who wrote (46606)	8/5/1999 8:16:00 PM
From: Razorbak	Respond to of 95453

Talisman (TLM.TO, TLM) Profit Soars on High Oil Prices (Recasts lead, adds spending increase in 2nd para, adds analysis in paras 3, 4, 10 and 11, updates share price) By Dann Rogers CALGARY, Aug 5 (Reuters) - Surging commodity prices helped Talisman Energy Inc. (Toronto:TLM.TO - news), Canada's biggest international oil producer, pump out a tenfold increase in second-quarter profit and prompted it to promise the best is still yet to come. Calgary-based Talisman predicted "spectacular" results for the full year as production increases are expected to lift annual cash flow by an estimated 43 percent. The company will also boost its spending on exploration and development this year to C$887 million from $816 million. A series of oil and gas projects due to come on stream over the next three years could boost the company's share price by as much as 50 percent during that period, analysts said. "They'll be getting more production from Sudan in September, output from the North Sea will rise in October, another North Sea field will come on in 2001 and then they have a huge gas field in Indonesia due to produce in 2002," said Craig Langpap, an industry analyst with Calgary brokerage Peters & Co. "Things are nicely lined up for the next couple of years." Second-quarter net earnings jumped to C$20.4 million, or 15 Canadian cents a share, from C$1.9 million, or 2 Canadian cents a share, in the year-earlier period. Cash flow, a key measure of an oil company's ability to fund upcoming development, rose 61 percent to C$225.5 million, or C$1.89 a share, from C$139.7 million, or C$1.27 a share, in the second quarter of 1998. Revenues were C$415.6 million, up from C$326.8 million. Talisman Chief Executive Jim Buckee said he expected oil output to grow by 40,000 barrels a day by the fourth quarter as the new projects and production from recently acquired Canadian explorer Highridge Exploration take effect. "Assuming a $19 per barrel (West Texas Intermediate oil) price going forward, this will be a spectacular year, with the potential for over C$900 million in cash flow," Buckee said. Talisman's cash flow rang in at C$631 million in 1998, when world crude oil prices dipped to multi-year lows. "This is a cash-flow momentum story," said Martin Molyneaux, an industry analyst with Calgary brokerage FirstEnergy Capital Corp. "Talisman is saying they will have cash flow of C$7.50 a share this year while many analysts are still forecasting C$6.90 a share. The street is running behind." Molyneaux expects Talisman shares to reach C$58 within 12 months and then climb to as high as C$70 within two years. Langpap expects the shares to climb to C$59 within the next 12 months. Talisman shares on the Toronto Stock Exchange jumped C$1.10 to a new year-high of C$46.60 in midafternoon trading. The oil industry has reaped the benefits of a resurgence in crude prices since March, when major producing nations agreed to hold back supplies from glutted world markets. Talisman said its average oil price in the second quarter was C$21.67 a barrel, up 27 percent from the year before. Its average natural gas price, meanwhile, rose 11 percent to C$2.39 a thousand cubic feet. Oil and gas liquids production averaged 142,045 barrels a day, down 3 percent from 145,719 in the second quarter of 1998. Natural gas output was up 22 percent to 862 million cubic feet a day from year-earlier 707 million. ($1=$1.49 Canadian)