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

To: SliderOnTheBlack who wrote (47079)	6/30/1999 9:06:00 AM
From: ChanceIs	Read Replies (2) \| Respond to of 95453

Slider, BigDog - How do you rate EEX versus EPEX? EEX sold the onshore store to strike out into the gulf. EPEX looks like they are nibbling on the "beachfront" that EEX thought was not as profitable. I received information from Patterson Energy that the typical offshore gas well is depleted about 45% in the first year. Hence their pitch for more drilling onshore. TIA

To: SliderOnTheBlack who wrote (47079)	6/30/1999 10:03:00 AM
From: Think4Yourself	Read Replies (2) \| Respond to of 95453

I agree, E&P's are the place to be. All this quarter they have been making money selling oil and gas at the higher prices while drillers and service companies have had no new business. We should see some substantial differences in earnings between these groups this quarter. Those E&P's that are continuing to drill are also getting those services at bargain prices, making them even more attractive. A little E&P that plays their cards right should come out of this cycle as a much bigger/stronger E&P. Look for drilling activity (Especially using 3D Seismic) in earnings reports. This logic is SO simple that it is easy to miss.

To: SliderOnTheBlack who wrote (47079)	6/30/1999 10:04:00 AM
From: diana g	Read Replies (2) \| Respond to of 95453

Re: Reaction to Poor Earnings? Slider, Perhaps you and Timelord are right about this, but I remember how the great earnings weren't a hindrance to last years plunge, and I expect the flip side of that this time around. Those earnings #s are just one of the instruments used to try to predict the future. Obviously Not an infallible indicator. I think most everyone knows this. Sometimes a particular instrument isn't appropriate to a situation, or doesn't work properly in a situation, and the smart response is to discount that instrument's indication. ---eg, If you're piloting a plane and your compass says you're going North, but directly in front of you is the rising sun, the smart move is to discount the compass reading. This current situation in this sector seems to me to be so clearly one where earnings #s can be easily seen to Not be indicators of the future that I expect they will be ignored by all but the dimmest. But that's jmho, of course. I'm just a simple grrl, and I'm often wrong. We'll see how it plays out. regards, diana