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

To: otter who wrote (54908)	11/17/1999 11:18:00 AM
From: freddie	Read Replies (1) \| Respond to of 95453

Otter, You're gonna kill 'em with those options. CNBC reported a 300 million barrel find (with it being a possible 500 million) off the coast of west Africa. CNBC also reported that OIL is going to New York to talk with analysts. I don't think they're going to spew bad news. Way to go Bud, I'm happy for you. freddie

To: otter who wrote (54908)	11/17/1999 11:19:00 AM
From: oilbabe	Respond to of 95453

For those interested, OEI seems to have broken through the $9.00 barrier this morning.. heavy ask to bid ratio has turned around in the past few minutes...(hopefully)

To: otter who wrote (54908)	11/17/1999 11:23:00 AM
From: oilbabe	Read Replies (1) \| Respond to of 95453

Crude Oil in London Climbs to $25.07/Bbl, Highest Level Since the Gulf War London, Nov. 17 (Bloomberg) -- Crude oil prices in London surged to their highest level since the Gulf War in 1991 on concerns disruptions to supplies will cause a shortage at a time of declining global inventories. Crude oil for January settlement gained as much as 53 cents, or 2.2 percent, to $25.07 a barrel on the International Petroleum Exchange, its highest price since Jan. 16, 1991. Crude oil for December delivery on the New York Mercantile Exchange was up 49 cents at $26.19 in electronic trading. Royal Dutch/Shell Group, the biggest foreign oil producer in Nigeria, said exports from its Forcados oil terminal in Nigeria could be delayed by civil unrest. Shell invoked a contractual clause -- known as force majeure -- that allows it to miss deliveries because of circumstances beyond its control, said Cerris Tavinor, a Shell spokeswoman in London. The clause will remain in place until Dec. 9, she said and declined to specify what caused the disruption. Last night the American Petroleum Institute said crude oil supplies fell by 2.49 million barrels to 309 million barrels last week, while gasoline inventories plunged almost 5 million barrels to the lowest level in two years.