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

To: BigBull who wrote (48080)	7/16/1999 9:44:00 AM
From: ChanceIs	Respond to of 95453

Ocean Energy to Form Royalty Trust - Question for the Board There has been quite a bit of discussion on the board concerning royalty trusts. I have been an advocate of Torch (TRU) simply because it got hammered down into a severely undervalued position. In general one would not expect to make anywhere near as much on a trust as the service or E&P stocks in the current environment. Here is an opportunity, a new trust being formed. Does anybody have an opinion on whether these are good investments at the inception, in the sense that IPOs often increase rapidly. In the case of Torch, the proven reserves were less than expected and the initial investors I suspect got hurt. This in part created the very favorable buying opportunity later. Question then to the board - Is this new trust worth tracking??? TIA biz.yahoo.com HOUSTON, July 16 /PRNewswire/ -- Ocean Energy, Inc. (NYSE: OEI - news) today disclosed that it has filed a registration statement with the SEC relating to the formation of a royalty trust. The royalty trust will include properties in the Arkoma Basin in Arkansas and Oklahoma and the Bear Paw area in Montana. The Company will convey a 45% net profits interest in these properties to the trust, which will be named Ocean Energy Royalty Trust. In aggregate, the reserves attributable to the trust units planned for sale represent approximately 5% of the Company's proved reserve base. Under the terms of the planned offering, the Company would offer at least 75% of the trust units after obtaining SEC clearance, subject to market conditions. Ocean Energy anticipates a listing on the NYSE for the trust.

To: BigBull who wrote (48080)	7/16/1999 9:52:00 AM
From: stevedhu	Read Replies (1) \| Respond to of 95453

BigBull, the news hasn't hit the wires yet, at least it's not posted on Yahoo's news sources, and FGI and HLX are not reflecting the news. So be it Take Care Steve

To: BigBull who wrote (48080)	7/16/1999 9:55:00 AM
From: BigBull	Read Replies (1) \| Respond to of 95453

Hyundai predicts $22 bbl wti koreaherald.co.kr Also a Korean think tank has yet again raised 99 Korean GDP growth - to - get THIS - 7.5%. IMO Europe will be in full recovery by the next few months. LATAM will be by the end of the year. Oil will go to $24 wti by Christmas, rendering this past quarters earnings moot. For OPEC to raise production even in Sept. is now too late. At those prices, any CEO of the majors who does NOT drill will be taken out behind the woodshed and thrashed. <g> Buying dips on everything. OS E&Ps. Buy em long, Buy em hard, Buy em often.