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

To: SliderOnTheBlack who wrote (50183)	9/1/1999 9:12:00 AM
From: articwarrior	Read Replies (1) \| Respond to of 95453

Take a look at the candlesticks on KEG...Double Hammer! Bars showing Green. Tick tick tick.... Don't forget that HLX just got awarded a 1.5 mil teaser by the Navy... Potential 6 Billion dollar job and with the FGI merger odds on favorite for the business. Artic

To: SliderOnTheBlack who wrote (50183)	9/1/1999 9:23:00 PM
From: Robert T. Quasius	Respond to of 95453

AXAS is a good example of misleading value. Book value, after all the write-downs, is around -$10, while true value is $5 based upon proven reserves, gas processing facilities, less debt. Intrinsic value is probably somewhat more than $5 after you consider the inventory of drilling prospects, some of which might prove to be elephantine.

To: SliderOnTheBlack who wrote (50183)	11/7/1999 4:00:00 PM
From: oilbabe	Respond to of 95453

OPEC Likely to Extend Oil Output Cuts Beyond March, Iran Says Tehran, Nov. 7 (Bloomberg) -- OPEC is likely to maintain oil production cuts after they expire next March if world stocks remain high, in a bid to keep prices near their current two-and-a-half-year highs, Iran's oil minister said. Bijan Namdar Zanganeh, speaking to reporters after discussing the extension of production cuts with Saudi Arabian oil minister Ali al-Naimi, said the supply cuts could be continued beyond the first quarter of 2000. ``It depends on the level of stocks in March and the price. If these two factors are like they are now, it is probable we will extend our pledge.' Oil prices have more than doubled this year from $9.55 a barrel in December, as 10 of the 11 members of the Organization of Petroleum Exporting Countries and four other nations agreed in March to cut supplies by 5 million barrels a day, or 7 percent of world supply, for one year, starting April 1. Venezuela said last week it expected OPEC to extend oil output limits beyond March as oil inventories show little sign of diminishing. The oil ministers from Saudi Arabia, Venezuela, and non-OPEC Mexico are expected to meet in Riyadh later this month to discuss what output strategy to adopt in the new year. Iran's OPEC governor, Hossein Kazempour Ardebili, said if the cuts were extended, the extension would not last for all of 2000 because demand for OPEC oil is expected to increase. ``If it is going to be extended for a while, it is either one quarter or two quarters...In the year 2000 there has to be an increase because there will be an increase in the call for OPEC oil,'. Oil producers are reluctant to boost production before the end of a global oil glut that caused prices to hit a 12-year low in December. OPEC made 86 percent of its promised cuts in October, according to a Bloomberg survey of analysts and government officials, down from 89 percent in September Zanganeh said ``more than 85 percent compliance is fine, but we must be careful not to decrease from this figure.' The gain in prices, which marks OPEC's biggest success in boosting prices since the 1970s, is good news for Iran, and other OPEC members, whose oil revenue plunged by one-third, or $50 billion, to $110 billion in 1998 because of low prices.

To: SliderOnTheBlack who wrote (50183)	11/9/1999 6:21:00 AM
From: oilbabe	Respond to of 95453

Iraqi oil minister in Caracas Iraqi Oil Minister Amir Mohammad Rasheed will have talks tomorrow in Caracas with President Hugo Ch vez during which the OPEC heads of state and oil ministers summit slated for Caracas in March will be one of the themes on the agenda. The Caracas summit begins on March 27 and ends March 30 and promises to be the biggest event in the cartel?s 40-year history. Ch vez indicated on Sunday that Iraqi leader Saddam Hussein is very welcome to attend the March meeting, as are all the OPEC heads of state.

To: SliderOnTheBlack who wrote (50183)	11/12/1999 8:20:00 AM
From: oilbabe	Respond to of 95453

Natural Gas Falls to 7-Week Low as Warm Weather Cuts Demand New York, Nov. 11 (Bloomberg) -- Natural gas fell more than 5 percent to a seven-week low as unseasonably warm U.S. weather reduces demand for the nation's main heating fuel. Heating demand is expected to be less than 80 percent of normal for the next seven days, according to Weather Derivatives, a Belton, Missouri-based forecasting firm. Normal or above-normal temperatures are expected in much of the U.S. -- except for the East and West Coasts -- from Nov. 16 to Nov. 20, the National Weather Service said yesterday. ``In the absence of positive weather signs, the market will be down,' said David Chang, vice president of energy trading at Bank of America in New York. Natural gas for December delivery at the Henry Hub in Louisiana fell 13.5 cents, or 5.1 percent, to $2.522 per million British thermal units on the New York Mercantile Exchange, the lowest closing price since Sept. 22. Prices have fallen 18 percent in the past two weeks. On Oct. 26, the National Oceanic and Atmospheric Administration said it expected that most of the U.S. will have a milder-than-normal winter, similar to last year, and that will keep heating demand low. After the close of trading yesterday, the American Gas Association said U.S. natural gas inventories rose 12 billion cubic feet to 3.007 trillion cubic feet last week. The increase, which was smaller than a year ago, left gas depots 93 percent full. Still, prices could recover in coming days, traders said. ``That pricing has held up this well with record warm temps -- when it's 75 degrees in St. Louis and Chicago -- that's telling us underlying supply is not that good,' said Mike Barbis, senior natural gas analyst at Warburg Dillon Read in New York. Some traders and analysts have estimated U.S. production fell by 3 percent to 4 percent in the third quarter from a year ago after prices at 3 1/2-year lows led to a slump in exploration and drilling earlier in the year.

To: SliderOnTheBlack who wrote (50183)	11/15/1999 6:06:00 AM
From: oilbabe	Read Replies (1) \| Respond to of 95453

Crude Oil Rises to Near 3-Year High as OPEC Expected to Extend Output Cuts London, Nov. 15 (Bloomberg) -- Crude oil rose to its highest level in almost three years on traders' expectations the world's biggest oil-exporting nations will keep output restrained beyond March. The United Arab Emirates' oil minister said at the weekend that the Organization of Petroleum Exporting Countries would likely extend output cuts beyond the end of the first quarter next year. The cuts, amounting to some 7 percent of world supply, have helped prices more than double since dropping to a 12-year low in December. ``OPEC realizes intervention works,' said Jurjen Lunshof, an analyst at Credit Lyonnais Securities. ``They don't want to turn the clock back now that they have regained control over the market.' Crude oil for December settlement gained as much as 29 cents to $24.88 a barrel on the International Petroleum Exchange, its highest price since Jan. 1997. Crude oil for December delivery on the New York Mercantile Exchange was 25 cents higher at $25.16 a barrel in electronic trading. Gasoil for December delivery on the IPE rose as much as $6, or 3 percent, to $206.50 per metric ton, also its highest level since January 1997. Gasoil is a group of fuels made from crude that includes heating oil. The gain in crude oil boosted some oil companies' shares in Europe. Shell Transport & Trading rose as much as 8 pence, or 1.6 percent, to 495 pence; Total Fina SA gained as much as 2.4 euro, or 1.9 percent, to 131.4 euros; and BP Amoco climbed as much as 7 pence, or 1.2 percent, to 620 pence. ``There is wide support among OPEC members to extend the current output cuts,' said U.A.E. oil minister Obeid bin Seif al-Nasseri, according to the country's official WAM news agency yesterday. ``In March we will be able to take the appropriate decision.' OPEC, plus four other nations including Mexico and Norway, have agreed to keep the cuts, based on February 1998 levels, in place until April to ensure that a surplus of oil is eliminated. The International Energy Agency said last week that inventories of oil and oil products in developed countries fell 1.8 million barrels a day in September, reducing the total by 4 percent. Available global stockpiles of crude oil and other petroleum products now amounts to about 81 days of consumption, down from 86 days at the beginning of the year and their lowest level since late 1997, according to London's Centre for Global Energy Studies, which considers 80 days the normal level. ``Inventories are going to be lower by the end of December, so they could be very low by the end of March,' said Lunshof. ``The market is looking ahead to further tightening of supplies.'

To: SliderOnTheBlack who wrote (50183)	11/17/1999 6:47:00 AM
From: oilbabe	Read Replies (1) \| Respond to of 95453

Check out last paragraph...yea baby!! Crude Oil Rises Near 3-Year High After Larger-Than-Expected Supply Decline London, Nov. 17 (Bloomberg) -- Crude oil rose near a three- year high after U.S. inventories dropped more than expected, raising concern that supplies could run thin in the next few months as the Northern Hemisphere winter lifts demand. Crude oil supplies last week fell by 2.49 million barrels or 0.8 percent, the American Petroleum Institute said yesterday, leaving inventories 10 percent lower than in April, when OPEC slashed output to end a glut. Analysts expected a drop on average of 1.1 million to 1.9 million barrels, a Bloomberg survey said. ``We are approaching inventory levels that will make it difficult to operate,' said Jack Kellet, a trader at Credit Lyonnais Rouse Ltd. ``It's a vicious circle now because people are reluctant to build stocks with prices this high.' Crude oil for January settlement gained as much as 41 cents, or 1.7 percent, to $24.95 a barrel on the International Petroleum Exchange, more than double the price a year ago. Crude oil for December delivery on the New York Mercantile Exchange was up 39 cents at $26.09 in electronic trading. The rise in crude prices sparked a rally in European oil shares. BP Amoco Plc gained as much as 8.5 pence, or 1.4 percent, to 640p in London, while Total Fina SA advanced as much as 2.9 euros, or 2.2 percent, to 135 euros in Paris. Declining inventories in the U.S. is the latest indication that the Organization of Petroleum Exporting Countries' plan to end a global surplus has succeeded. The group and four other nations slashed world supplies by about 7 percent in April from February 1998 levels, forcing refiners to use up stored fuel. Brent crude oil futures will be at their highest level since the Gulf War, almost a decade ago, if prices rise above their Oct. 15, 1996, high of $25.06 a barrel. Available global inventories of crude and other petroleum products are at about 81 days of consumption now, their lowest level for two years, according to the London-based Centre for Global Energy Studies. The CGES said this week that companies' stores of oil in the Organization for Economic Cooperation and Development countries will probably drop below their minimum operating requirement of 50 days during the first quarter. An extension of the OPEC cuts beyond their expiry at the end of March -- as some oil ministers suggest -- could lead to supplies dropping to an all-time low of 45 days by the fourth quarter, pushing the price of oil to $35 a barrel, CGES said.

To: SliderOnTheBlack who wrote (50183)	12/2/1999 6:40:00 AM
From: oilbabe	Respond to of 95453

Natural Gas Rises on Forecasts for Cold Weather, More Demand New York, Dec. 1 (Bloomberg) -- Natural gas futures rose 4 percent, the biggest gain in more than two weeks, on speculation that temperatures will be colder than previously expected next week in parts of the U.S. where the fuel is used for home heating. A National Weather Service forecast issued late in the session called for normal to below-normal temperatures next week in the eastern half of the U.S., boosting heating demand. A forecast earlier this week said temperatures could be warmer. Prices fell 16 percent in November amid unseasonably mild weather. ``The jet stream is changing more toward a winter pattern,' which bodes well for prices, said Susannah Hardesty, president of Energy Research and Trading Inc., a natural gas industry consultant in Greencastle, Indiana. Natural gas for January delivery at the Henry Hub in Louisiana rose 8.9 cents, or 3.9 percent, to $2.393 per million British thermal units on the New York Mercantile Exchange, the biggest one- day gain for a most-active contract since Nov. 12. Prices are about 22 percent higher than a year ago. The National Weather Service forecast below-normal temperatures from the Ohio Valley to the East Coast from Dec. 7 to Dec. 11, with normal temperatures in the Midwest. As recently as two days ago, the Weather Service was calling for above-normal temperatures Dec. 5-9 in the Midwest and Northeast, the top markets for heating fuels. ``Temperatures in the eastern half of the U.S. should move from near-record highs back to more seasonal levels' Dec. 7 through Dec. 11, said Jim Rouiller, chief meteorologist at Strategic Weather Services in Omaha, Nebraska. There's also a chance of a ``substantial' cooling, with temperatures 6 to 10 degrees Fahrenheit below normal from the Plains to the Mid- Atlantic Dec. 12-16, he said. After trading ended, the American Gas Association reported an unexpected 0.2 percent rise in U.S. natural gas inventories last week. Supplies rose 5 billion cubic feet to 3.0 trillion cubic feet during the week ended Nov. 26, the AGA said. Traders and analysts surveyed by Bloomberg had expected a drop of 9 billion cubic feet. Supplies still are 2.5 percent lower than a year ago. Stockpiles rose by 8 billion cubic feet during the same week last year, when the weather was unusually mild.