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

To: A. Geiche who wrote (48145)	7/18/1999 3:23:00 AM
From: double-plus-good	Respond to of 95453

A.G. How much faith do you put in the kind of data churned out by barcharts? For my part I don't know what a commodity channel indicator is supposed to tell me. Overall I tend to use that kind of advice as contrarian. A 100% buy read is going to get me in on a top better than 50% of the time IMHO. Have you used the system profitably and can you suggest the best way to read the data? ++good

To: A. Geiche who wrote (48145)	7/18/1999 7:11:00 AM
From: Ronald J. Clark	Respond to of 95453

TMR was ranked a "buy" by the same system when it was trading over $6.00/share over a month ago. Probably will be a buy again when it goes up 50% to the $6.00 range again. I think the disappointing result at Rockefeller Refuge and the blowout of the second Lilly Boom well were responsible for the recent drop and that news is now all out. Of course if they continue to have trouble at the Lilly Boom site the share price could continue to suffer. Lilly Boom well #1 (off production while the company deals with the Lilly Boom #2 blowout aftermath) was a great producer--put online making 18,000,000 cu. ft. of gas a day plus 1,800 bbl of condensate. TMR has a 70% W.I.in this field, so it is an important money maker for them. If net revenue interest in the well = 50% and gas at $2.25--oil at $20.00/bbl, the well makes revenue for the company of $40,000/day! Not bad for a single well.