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

To: Tomas who wrote (47959)	7/14/1999 11:37:00 AM
From: John Doyle	Read Replies (1) \| Respond to of 95453

Looks like the OSX can't get above 81.92 closing print on 6/15/99. I think me must break through with convincing volume. Gary- What does your wave count look like?

To: Tomas who wrote (47959)	7/14/1999 11:44:00 AM
From: Think4Yourself	Read Replies (4) \| Respond to of 95453

My hope is that refiners stop buying crude. That will quickly tighten up the supply of products and drive up prices a bit. A side effect will be inflation concerns. I believe the experts are deluding themselves when they say a 50% rise in oil will have no effect on inflation. The cut in refinery runs will cause crude levels to not drop as quickly each week. That should ease upward pressure on oil prices and reduce OPEC's tendency to cheat. While it may hurt my small E&P's on the income side, they will benefit by continued lower drilling and well service costs. It will really hurt the drillers and service companies. A nice benefit for me is the continued abstinence of land drilling by the cash strapped companies as they go into bankruptcy (a few are on the verge now). tick, tick, tick - time marches on. As demand for Natural Gas increases, fewer new wells are being drilled, and current wells are depleting, Examining the numbers for US output in the past year proves this alarming trend. A select few E&P companies will do VERY well. Question is, which ones are they? Hint: they have continued drilling for NG through all of this AND have significant oil/liquids coming up with the gas on their current wells. That way they benefit from current oil prices, putting the money to work drilling more NG wells. HINT #2: Check out the company that recently had a major blowout, especially if you think CRK is a great stock. Same debt interest payments, same gas, twice the oil, and doesn't have the nasty collar problems. Could be worth paying an extra 1/8 point per share :-)