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

To: BigBull who wrote (47441)	7/7/1999 12:49:00 PM
From: Douglas V. Fant	Read Replies (1) \| Respond to of 95453

BigBull, Well I just ate some crow Bigbull. We were approved to drill a number of additional wells this year outside of our regular budget....

To: BigBull who wrote (47441)	7/12/1999 2:06:00 AM
From: double-plus-good	Read Replies (1) \| Respond to of 95453

Big Bull (on SI) -- master of the int'l media link... thanks for the welcome. this board has been my number one resource for monitoring developments in oil-land and your contributions have been much appreciated. the big picture IMO grows daily more difficult to peg, especially from the trading side. there are lots of sellers in some of the big OSX faves which appear to confirm Gary's bearish view of a near-term correction of 15-20%. SII, CAM and VTS -- some of the real go-go issues have been very weak. At the same time, there has been some real perky performances in the laggards over the last week. PGO was strong out of the box last week and CLB was a real winner also. signs of life in the most damaged goods stocks -- KEG and PKD -- altogether the sector is looking either kinda sloppy OR ready to make the break to OSX 90. my take is that the interest in the more "speculative" stocks and the apparent breakdowns in the big names may be the signal of a pull back. FWIW I am using the behavior of CDIS, my #1 returning oil stock to guage the sector. we have some common cause in HOFF and TESOF, probably in some other stocks as well; i am really all over the map in the sector, though with a much higher concentration in the production and exploration side than 6 weeks ago. i can thank slider's table pounding for that one. i have been reading the TESCO annual and am really intrigued by their casing drilling tech. unfortunately i am not intimate with the new tech in drilling. Douglas pointed out an article on the new tech in the midland paper a couple of months ago which refernced the TESCO program. i would love to hear the input of those from the patch who are familiar with the potential benefits versus the higher cost. did you weigh this aspect of their biz when you bought in? the NG enp stocks fun-da-mental pointed out have really rocketed. makes some of the issues i am in look like utility stocks. but my guess is that the prospects for TESCO are getting much better. I am looking to add to my position but hoping for some third party input on their new tech. HOFF has the share overhang thing goin on. my prediction is that the shares won't come to market until HOFF slightly exceeds earnings forecasts which will seem like a lot as most other osx issues fall short. SSB will reiterate a BUY and another broker who will assist with the 4M placement will initiate with a BUY. added liquidity and increased coverage plus strong fundamentals. near term weakness will be opportunity in my view -- think we could be north of 10 come sept. ------------------------------------------------------------------ OT -- regarding the Conradian possibilities of my domicile. Really too bad the SI software ate my first contribution on the subject. No joke there either. Of mercenaries, amphetamines, heroin and flesh trading and an anti-insurgent military junta that has learned only too much from the japanese occupation, the British and Dutch strategies in the colonies and the US tactics in vietnam -- hey I know a little. Better that I wait and spin you a yarn when i return from my current vacation. I've been concentrating on the photographic. If you are interested I'll drop you a few jpegs off-thread. You evinced a more than casual interest in the cuisine, however, so i'll serve up one suggestion. Phonetically translated, Nahm Dtok Moo is a pork dish that should find a hearty welcome at any bayou or texan hosted rig party. Literally translated it means "waterfall pork." Thai language is really very magical -- funadamentally so plain yet with such simplicity to achieve the very real of the poetic. The name refers to the sound of the fat and oil from the choice loin cut as it drips onto the blazing coals. Grilled to a perfect mouth watering tenderness, the loin is then cut in 1 cm slices and bathed in a fragrant though potent mixture of herbs, chili and assorted other ingredients. Served with fresh bunches of basil and sticky rice, it finds a ready complement with a bottle of Sanghtip or Mekong whisky, or even one of the more potent unbranded varieties of jungle distilled spirits. Perfect for those planned or unplanned encounters with one or the other varieties of military intelligence groups, pro-democracy insurgents, toadying government bureaucrats, or even an odd lot of internet-connected, oil-patch partying profiteers. If you plan on finding it at your local restaurant, you may try either the phonetic or the literal translation. Geographic origin is Isaan, the eastern portion of Thailand bordering Cambodia. Also goes down well with Lone Star beer. Next weeks cuisine du jour -- Burmese green tea salad with dried shrimp and garlic. ----------------------------------------------------- so, bottom line for me is...this next couple of weeks will spell out what is in store for the strictly drilling crowd. FWIW, I am fully invested, 85% in the patch and around 50/50 service and production. I am fully prepared for a sharp osx correction and in fact am hopeful of seeing it. we have come far and fast, and while there appears to be considerable upside in the medium and long term, one doesn't get to one's goal without a little pain. we have fully profited on being the bullish freaks when oil was seen by most to be a commodity headed for the dog house of 5 dollars. now its time to show resolve as the new bulls may be tested by some unexpected report, major market correction or set of events. if one is long the patch i believe one must be bearish on the overall market. higher oil prices alone will spell doom to the low inflation go-go hypster inflected market. look at it this way. most of the regular posters here, and those who have profited the most handsomely, were the ones who saw the supply-demand situation correcting "naturally" irrespective of OPEC by sept. so we were given the gift of one of those volatile oil and OSX explosions. which ironically now makes us vulnerable to a sharp correction -- with the overall market -- at the same time as the very causes of the market's downfall will have been the catalyst for our very big gains. its a no-brainer for the buy and hold folks. don't get shaken out. the current bullish psychology has not yet been tested. the weak hands will be shaken IMO before we next leg up. gotta give respect to gary for seeing the big psych e-wave picture. on that score i feel there may be some merit in suggesting that while all the reasons for gold's demise are valid so too did the reasons for oil's demise seem valid to 95% of the trading and living population. when more than half the gold producers from canada and australia are beginning to market themselves as mini CMGI's amd e-this n' thats my contrary-o-meter is just a goin haywire. think outside the box and it can be -- doubleplusgood