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

To: SliderOnTheBlack who wrote (48992)	8/6/1999 5:15:00 PM
From: SliderOnTheBlack	Read Replies (1) \| Respond to of 95453

Fidelity Select Energy up 67% YTD .... cbs.marketwatch.com

To: SliderOnTheBlack who wrote (48992)	8/6/1999 5:45:00 PM
From: ChanceIs	Read Replies (1) \| Respond to of 95453

<many companies here are deleveraging, the majors have slim refining margins > Slider - check out Tesoro's recent news and earnings release. Those boys made a killing in every sector including refining. Yes there has been a lot of whining by refiners about margins, but I think that that was just an excuse to produce less gasoline and drive the price up. Look at all the oil company earnings. Stone Energy just crossed $50 from its low of ~$19. I think they have the bucks. I have heard of at least one CEO stating that he was starting to drill now while the rates were low.

To: SliderOnTheBlack who wrote (48992)	8/7/1999 1:51:00 AM
From: k.ramesh	Read Replies (2) \| Respond to of 95453

Any guesses on how sensitive E&P companies are to the POO, PO NG. eg. several companies said that their avg. price of NG was around 1.80 - 1.90 in the last qtr. If you take APA APC BR UPR OEI SFY and a few others, do you have info on which ones are hedged, ie already sold their production for say 2.20 and how sensitive are they to each 10c move in the price, which might depend on Oil/NG mix, level of debt, how easily they can ramp up production etc. On quicken.excite.com when I compared a couple of them UPR and APC maybe, UPR had a better price to assets ratio, would that be a good measure(of the leverage), or does that not say anything on their ability to convert them assets into cash? Rankings or WAGs would do. In the case of the gold stocks, people are always going on about how NEM is not hedged v. some others who have already sold their future production. Ramesh.