Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: SliderOnTheBlack who wrote (48547)	7/29/1999 10:07:00 AM
From: Think4Yourself	Read Replies (3) \| Respond to of 95453

HMAR says drilling downturn not bottomed yet. biz.yahoo.com ''The downturn in the oil patch is continuing and may not reach bottom for another quarter or two,'' commented Jean Fitzgerald, Chairman, President and CEO. ''While there are encouraging signs in the domestic market, including an increase in the number of drilling rigs operating in the Gulf of Mexico, the international market continues to weaken and may well lag any domestic recovery. In the meantime, our towing and tanker operations are performing well, and we are working on a number of refinancing opportunities to address our ongoing liquidity problems.''

To: SliderOnTheBlack who wrote (48547)	7/29/1999 10:18:00 AM
From: Think4Yourself	Read Replies (4) \| Respond to of 95453

I am not going to touch any of the drillers or service companies for at least 1 quarter. If the price of oil keeps rising, OPEC members will start breaking ranks and increasing production. The reduction in supply is not being caused by an inability to produce, thus the need for new wells is not real at this time. Would be interested in hearing someone argue the case for drillers and/or service companies over the E&P's. I see dollar signs for the E&P's every time I look at the futures prices (and every time I walk outside).