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

To: SliderOnTheBlack who wrote (53658)	10/28/1999 10:46:00 AM
From: William JH	Respond to of 95453

Here is a part of what Scott Gill of Simmons and Co. said on 10/17/99: "First, there has been very little fundamental support for these stocks, i. e. drilling activity for oil has not responded to the rise in prices. The activity that has risen has been predominantly associated with shallow development wells and workovers on land, and not on the bigger projects that meaningfully impact long-term production and reserves. Basically, the E&P companies have signaled through their lack of action that they don't believe in the commodity price.. Which brings me to point number two. Investor confidence in crude prices is eroding....." I'm just posting this as a rebuttal to Gary B., who said that there is too much bullishness in this sector. I just don't see it myself.