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To: Crimson Ghost who wrote (55343)	11/24/1999 10:30:00 AM
From: SliderOnTheBlack	Read Replies (2) \| Respond to of 95453

API Drawdown - 300 M BOE Benchmark looms very close... We had positive API's once again. The headlines should be screaming about days of usuage in supply, we are nearing dangerous levels. SSB had a nice commentary about it being much, much too early to write of winter demand regarding the Nat Gas story. Regardless of "winter weather" - the story for the balanced producers is that merely with $20 crude; they have tremendous upside here going forward. This upside has been completely discounted here. The Street is completely ignoring both crude prices and the underlying fundamentals here. We have E&P stocks at fractions of their 97-98 cycle valuations. The mid-large cap E&P's with good exposure to crude production are tremendous opportunities here. The fundamentals of global growth and continued supply drawdowns - totally excluding any Y2K speculation, or events; supports E&P valuations much higher than present shareprices. Even VPI whom has - NO, ZERO, NADA - crude hedges in place, with increasing production, a new credit line etc - is still nearly 30% lower in sharprice than it was last October with $12 Oil - and this is a heavy Oil producer ! Balanced producers like UPR PXD OEI are screaming buys. Obviously the greatest buying opportunities are when sentiment, or interest are at their lowest points. This spells opportunity here as the overall market focuses on the NASDQ/technology sector and the recovery in the DOW. We will see "sector rotation" once again. The Inflationary pressures can not be ignored, the emergence of speculation of another rate hike will have money once again scrambling to the oilpatch. The biggest story is that we are steadilly heading toward a penetration of 300M boe in US storage. When that happens - we cross a point of no return. The stage will be set (regardless of any Y2K effects) for a speculative bubble in crude prices. We are reaching a divergence of historically high crude prices - which very, very importantly are clearly supported by supply & demand fundamentals; and yet have historically low valuation multiples on theses E&P's. This can not and will not continue. This spells opportunity to those who are willing to venture headlong against the grain. The Street will ultimately catch up to the story. Sometimes you must trust the numbers and the story regardless of what the tape is telling you. This is the time to do so and those who do will be richly rewarded imho. Buying UPR PXD OEI FST NBL here... fwiw; waiting on VPI NEV BR - getting close.

To: Crimson Ghost who wrote (55343)	11/24/1999 10:33:00 AM
From: Gary Burton	Read Replies (2) \| Respond to of 95453

George--what does Don Hays charge for his email service? what is the contact email address?

To: Crimson Ghost who wrote (55343)	11/24/1999 10:35:00 AM
From: The Ox	Respond to of 95453

George, Thanks for the view. It's very obvious that no one can talk down this market. AG 'tried' and failed. It will take a catalyst, IMO, to change the trend. With the average Joes able to log in and electronically trade 'like' the big boys, we truly have a 'new paradigm'. The way I see it, the new paradigm will only last as long as everyone is making money by simply throwing it at the market. Once this 'catalyst' changes the landscape, the new paradigm will be over and so will the 'bubble'. New highs were outnumbered by like 8-1 by new lows and still the market moves higher. Interest rates have been climbing and still the market moves higher. Oil prices have soared and still the market moves higher. Gold prices seem to have bottomed and have trended higher and the market shrugs this off. As BigBull points out, it's much more expensive to be out of this market then in it. JMO, Michael