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

To: BigBull who wrote (54151)	11/6/1999 3:24:00 PM
From: Think4Yourself	Read Replies (2) \| Respond to of 95453

WA watch? What is that? I know I didn't say so but my post was oriented around a NG viewpoint. What I was implying was that the majors seem to be spending most of their money outside the US environment. if cap ex spending doesn't increase it suggests to me that GOM NG exploration (the major source of US NG) won't pick up. Since NG is generally only imported from Canada, and Canada is supposedly producing near capacity, this suggests supply will not grow. At the same time 2 warm winters have masked demand growth (how many of you out there live near new subdivisions?). At the same time a new industry (power generation) is starting to explode, and will dramatically increase NG demand in coming years. In conclusion, as long as cap ex spending remains depressed I believe E&P's heavily oriented towards NG, and WITHOUT refining operations, are the place to be. They are the only companies in the entire energy industry certain to profit under these circumstances. Trick is to find EnP's with ACTIVE, SUCCESSFULL drilling programs, high production levels, and who get good prices.