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

To: Broken_Clock who wrote (52308)	10/2/1999 8:57:00 AM
From: SliderOnTheBlack	Respond to of 95453

API's next week could make it real interesting... quote.bloomberg.com <<The narrow difference in prices between U.S. and U.K. crude means it doesn't pay for North Sea oil to be shipped to the U.S., Barakat said. That should keep a lid on imports and assure that U.S. inventories will keep falling. The difference in price between Brent and New York futures was about 90 cents yesterday -- about one-third below the one-year average and not enough to cover tanker rates, traders said.``With the Brent arbitrage closed, imports should remain on the smaller side and there will very likely be' inventory declines, Barakat said. A trading strategy could be to buy today and sell on Wednesday, just after the next API inventory report, he said.>> ... a good "Trading Strategy" as well for common stock in the Oilpatch. Those who bought into this 20% blowoff in the Oilpatch; especially the E&P's who are going to report some nice upside surprises for Q3 shortly, are going to do very well... Supply, supply, supply.... is the story right now. As we appear headed to break well below 300M boe in domestic storage; when & if "demand" becomes the story - we will see the crude "Bubble"... inevitable imho. Papaya; agreed on PXD. Bought OEI the heaviest; as they were on record very early as saying they will easily beat all Q3 estimates and UPR & PXD as laggard value play - large caps; that are a slight 2nd tier behind the APA's & BR's. These will get strong institutional support here shortly. If we have another 3-4 million boe drawdown this week; all hell could break loose...$27-$28 in Nov. and with any type of a normal Winter- a spike touching $30 temporarilly looks very possible. $30 crude Oil adjusted for inflation - is nothing compared to the prices in todays $'s of the infamous Oil embargo crisis... $30; the pieces are falling into place that point directly to that # imho. There is enough of a wall of worry to climb ; as there are still great expectations for OPEC to break ranks & cheat... only time will tell.

To: Broken_Clock who wrote (52308)	10/2/1999 2:21:00 PM
From: sportsman	Respond to of 95453

Talk about winter setting in. It was 36 here in the Texas Panhandle this morning with a wind chill in the teens! I will be interested to see if this cool weather shows up in AGA report this week. Sportsman

To: Broken_Clock who wrote (52308)	10/4/1999 1:15:00 AM
From: Douglas V. Fant	Read Replies (1) \| Respond to of 95453

Papaya King, PXD looks good going forward if you believe David Garcia, an analyst at Everen Securities. He noted in an article in today's Oil & Gas section of the Midland Reporter "Production Not Responding to Price". David notes in the article that there is a natural gas supply deficit of 2.3bcf/daily in North America. There is legitimate demand for 60bcf/day of gas usage but only 57.7 bcf produced. Garcia says that the market will adjust to the supply deficit by creating a price level that will get higher and higher, causing many marginal gas users to drop out. "The process is well underway, and while there will be voltility on a month-to-month basis, the price deck is being raised."