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

To: ChanceIs who wrote (52981)	10/14/1999 12:47:00 PM
From: Think4Yourself	Respond to of 95453

EXCELLENT article (a bit long though). Thanks for posting it!

To: ChanceIs who wrote (52981)	10/19/1999 10:56:00 AM
From: Tomas	Read Replies (3) \| Respond to of 95453

A must read: Is $24/Bbl Crude Too Low? simmonsco-intl.com A quote from the article: "There are no reliable estimates on what the average natural decline rate is for the world?s crude oil and gas production base. We would guess it is some where between 5% and 10%. Even if it were only 5%, the world would need an additional 54 mm boepd by 2010 just to keep production flat. This amount is equivalent to two OPECs". "My message to the E&P industry is that you are going to have to pay up for rigs in the very near future."