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To: John Paquet who wrote (222)	10/19/1999 6:12:00 PM
From: goldsnow	Respond to of 507

If oil is still under that $15.00 there is room to grow and make money, but oil is $22-23 down from that $25.00 I see there is no much room at all. Goldsnow, wake up.>>> O'key lets stick to strategy....Did it occur to you why Oil outperformed Oil stocks so far? Lack of confidence that it would stay-up! Never mind that I am hyping Natural Gas producers not OIl that have nothing to do with OPEC anyway....We all know that Energy move in tandem....However the reason that Oil moved has nothing to do, or not as much with OPEC than with Asia Recovery....Now Europe is starting ticking..We shall see more upside oin Oil, much more in NG, and finally stocks will catch-up in dramatic fashion.. PS Buy SLB, HAL-easy double by March (Triumphant OPEC Meeting-they can't afford nothing but Total Triumph!>>meeting

To: John Paquet who wrote (222)	10/20/1999 9:36:00 AM
From: goldsnow	Respond to of 507

10/20 8:19 OPEC Could Extend Oil Production Cutbacks Until End of June, Kuwait Says By Sean Evers OPEC Could Extend Oil Cutbacks Until End of June, Kuwait Says Kuwait, Oct. 20 (Bloomberg) -- The Organization of Petroleum Exporting Countries could extend self-imposed oil output cuts until the end of June 2000, three months beyond their current expiry date, a Kuwait oil official said. Benchmark Brent crude oil has risen to $21.84 a barrel from less than $10 in December as 10 members of OPEC and four other nations agreed to cut world oil output by a total of about 7 percent for one year, starting on April 1. The producers reaffirmed their commitment at a meeting in Vienna on Sept. 22. ``OPEC could increase production in the third quarter next year after it makes sure global oil stockpiles are reasonable,' said a Kuwait oil ministry official, Kuwait's official KUNA news agency reported. Oil producers are reluctant to relieve production cuts before removing a global oil glut that caused prices to hit a 12- year low in December. The American Petroleum Institute reported earlier this month that U.S. oil supplies fell 7.14 million barrels to 298.94 million barrels, the lowest level since September 1997. -------------------------------------------------------------------------------- ¸ Copyright 1999, Bloomberg L.P. All Rights Reserved.

To: John Paquet who wrote (222)	10/20/1999 5:49:00 PM
From: goldsnow	Read Replies (1) \| Respond to of 507

Getting ready for March, March 2000? <gg>..Time to get ready is October...<gg> 10/20 0:00 Saudi Oil Minister Says Nation Has `Absolutely No Plans' to Raise Output By Mark Pittman Saudi Arabia Has `Absolutely No Plans' to Raise Oil Output Houston, Oct. 20 (Bloomberg) -- Saudi Arabia has ``absolutely no plans' to raise oil output before the end of March, because world inventories are still too high to justify an increase, Oil Minister Ali Naimi said. While crude oil futures have more than doubled from a 12- year low in December, to about $22 a barrel, partly because of output cuts, $2 to $4 of the increase is speculative and not based on changes in supply or demand, Naimi told reporters after a business luncheon in Houston. The current round of production cuts by members of the Organization of Petroleum Exporting Countries is due to expire on March 31. It's ``not unreasonable' that some producers will extend their cuts beyond then, Naimi said. ``I'm sure many of you want to know what is the right price for oil,' Naimi told the luncheon gathering. ``I wish I knew that. No one would agree on that, yet we all know the wrong price.' Saudi Arabia, the world's biggest oil producers, is one of 10 members of OPEC participating in the output reduction effort, which has trimmed world supply by about 7 percent. -------------------------------------------------------------------------------- ¸ Copyright 1999, Bloomberg L.P. All Rights Reserved.