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

To: SliderOnTheBlack who wrote (47130)	6/30/1999 4:18:00 PM
From: still learning	Read Replies (1) \| Respond to of 95453

Slider, we now enter a game of chicken WRT capex. Do the E&Ps try to up capex now while dayrates are low, or wait to see $18+ oil for a few months? They've seen enough up and down action lately to have plenty of justification for not upping capex yet. But if they wait too long, they'll find themselves missing the bargain basement rig prices. IMHO, they start contract negotiations in earnest this summer, even if it's for project 6-9 months out. What are your thoughts/comments?

To: SliderOnTheBlack who wrote (47130)	6/30/1999 4:37:00 PM
From: Post_Patrol	Read Replies (1) \| Respond to of 95453

Slider, << This logic is SO simple that it is easy to miss >> Is that why you sold off yesterday??? Tee he he! The Post_Patrol

To: SliderOnTheBlack who wrote (47130)	6/30/1999 7:50:00 PM
From: BigBull	Read Replies (1) \| Respond to of 95453

Slider, Re: Crk hedge Still own it and may buy some more soon. Dumb question: Was the hedge put on so that the company is profitable net of all operating costs, including debt payments? If so, that would induce me to load the proverbial boat. It is my understanding that something like 65% of production was hedged at 2 bucks NG. If the current hedge is profitable then the remaining 35% would only serve to add to the bottom line. Care to hazzard a guess on upcoming earnings? Do correct me if I'm wrong. Well, if you are bettin' the ranch on this puppy, then you get an honorary Black Hat for valor above and beyond the call! <g>