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

To: Wowzer who wrote (48194)	7/20/1999 11:21:00 AM
From: ChanceIs	Respond to of 95453

Iraq sure of recovery in crude oil market Getting all the oil out could be difficult. Under U.N. rules, Iraq is allowed to use only its pipelines to the Turkish terminal of Ceyhan and Mina al-Bakr on the Gulf. The lines have a combined capacity of about 2.4 million barrels per day, and spare parts to boost that have not come through yet, said Yassin Jayed, South Oil's communications officer. The first wells in Rumeilah fields, which official estimates indicate hold 22 billion barrels of proved reserves, were drilled in the 1950s. Decades of excessive production may have inflicted more damage than allied bombings and recent neglect. nandotimes.com

To: Wowzer who wrote (48194)	7/20/1999 12:45:00 PM
From: RBlatch	Respond to of 95453

Rory - I feel gasoline #'s will accelerate to the down side for the next six weeks. Oil I feel, is under pressure as you can not remove the OPEC crude barrels from the market day after day and not have it show up. We are really just getting to the point in time where the cuts have filtered entirely thru the system and should end up showing up on the bottom line. Dstl. just typically run at a gain this time of year. All that being said, applying a common sense approach to arriving at these numbers is futile, as I think the numbers as reported are grossly inaccurate and/or manipulated. Cordially, RBlatch