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

To: still learning who wrote (48416)	7/23/1999 3:48:00 PM
From: stevedhu	Respond to of 95453

Still, Oil Close at $20.62 up 3.41%, NG close at $2.56 up 6.04% Take Care Steve

To: still learning who wrote (48416)	7/23/1999 4:00:00 PM
From: stevedhu	Respond to of 95453

Still MRL is going vertical Take Care Steve

To: still learning who wrote (48416)	7/23/1999 4:48:00 PM
From: upanddown	Respond to of 95453

EEX tempting since it is trading at 60% book and 3+ dollars cash (though those numbers could have changed radically). The problem is that these guys are really throwing the dice. Sell off most of the onshore producing properties and head for the deep water. Lots of cash now but they could burn it fast with expensive deepwater plays and they don't seem to have much operational cash flow to supplement it. Look how the market reacted to one dry hole. If the other one is a dud, watch out. If they hit an elephant like BP-Amoco may have in the same trend, then it could be a five-bagger. It seems like an investor in EEX is going wildcatting right along with this outfit. Boom or bust. The other problem is that even if they hit commercial strikes in the deep water, it could be years before production commences. Where is the money to finance the business and further exploration going to come from during this period? John