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

To: Ditchdigger who wrote (47534)	7/8/1999 6:56:00 AM
From: BigBull	Read Replies (6) \| Respond to of 95453

Whats wrong with this picture? Low day/rig utilization rates. High oil prices. No new drilling for 6 months. I don't think so. If there ever ever ever was a time to do exploration - imo - this is it. This why I don't agree with SSB's analyses. This "market anomaly" will NOT be allowed to persist long. They never do. These oil company CEO's will have a lot to answer for come the next annual meetings and or quarterly meetings with analysts. The pressure will start to mount on these guys. Bet on it. Don't think for a New York minute, they don't know it. Watch what they DO not what they SAY! The big surprise may turn out to be spending in places like Brazil, Venezuela, China, Indonesia, etc. under cover of "expanding presence into new markets" blah, blah, blah. The GOM may get the the money much later. Lots of US rigs will be used. FLC, RIG, DO, etc. will be perceived as incredible bargains in 4 months. My plan is to trade micro E&P's short term for some sweet 25 to 40% trading pops and plow the profits into DRILLLLLLLL ers. JMVVHO A special note to K. Lingerfelt: I will personally derive tremendous satisfaction from Shell CEO's "Mr. $12 a barrel forever" announcement (probably under cover of darkness) that Shell is increasing E&P budget expansion "sooner than expected".