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Strategies & Market Trends : The Thread Formerly Known as No Rest For The Wicked -- Ignore unavailable to you. Want to Upgrade?

To: stan s. who wrote (52072)	7/1/1999 9:33:00 AM
From: Big Dog	Read Replies (2) \| Respond to of 90042

Thought I'd drop in from the Strictly Drilling thread and offer my two cents on the oil service sector. The overwhelming driving force behind higher prices in the sector is the motto of the Offshore Drilling Bits newsletter: It's The Price Of Oil Stupid! Anyone notice that oil hit a 19 month high yesterday and is knocking on the door of $20 a barrel - may hit it today. Higher oil prices will "force" oil companies to open the purse strings and start spending money with service companies. The higher the price, the more they spend. Anything above $17-18 is healthy for the sector. OPEC is behaving this time. Expect sustained oil prices. Y2K, will there be any "panic" buying sending oil even higher? Who knows? Even without Y2K, the next months look good for the oil patch. big atoffshore.com

To: stan s. who wrote (52072)	7/1/1999 10:04:00 AM
From: margin_man	Read Replies (4) \| Respond to of 90042

SKYM is moving....

To: stan s. who wrote (52072)	7/1/1999 6:28:00 PM
From: kathyh	Read Replies (1) \| Respond to of 90042

hi stan, thanks, i will take a closer look at pten's chart and the osx... fwiw, the same friend told me that he didn't think oil co's purse strings would open up for new explorations, etc., until oil hits 23/barrel... if i recall, too much uncertainty if opec would stick to agreed restrictions etc... or would they all start cheating on quotas when price approaches 20... of course as i mentioned before this discussion was in march, and i have not visited with him recently... he is a principal in one of the co's mentioned... we are certainly closer to 23 than before, if that is indeed a magic number, but not quite there yet... i will keep a closer eye on the oil patch... talk to you soon!! kathy :)