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

To: upanddown who wrote (56131)	12/6/1999 7:27:00 AM
From: Attackjock	Read Replies (1) \| Respond to of 95453

In the news this AM from OPEC OPEC May Boost Output if Prices Stay Above $25, Senior Delegate Tells MEES Nicosia, Dec. 6 (Bloomberg) -- Members of the Organization of Petroleum Exporting Countries may boost oil output before March if prices stay above $25 a barrel in New York because of lean supplies, the Middle East Economic Survey said, citing an unnamed, senior Gulf oil source. Any decision to increase production would have to be made by all the producers who are currently committed to limiting supplies, which includes both OPEC and non-OPEC countries such as Norway. ``If prices remain above $25 a barrel' in New York ``over a sustained period of time reflecting supply/demand fundamentals and not mere speculation' then ``we will reconsider production levels,' MEES quotes the official as saying. Crude oil prices have more than doubled this year after OPEC, along with Oman, Mexico, Norway and Russia, agreed to cut world oil output by about 7 percent for one year starting April 1. (MEES 12/6) This in from Bloomberg

To: upanddown who wrote (56131)	12/6/1999 9:44:00 AM
From: Big Dog	Read Replies (5) \| Respond to of 95453

John, Maybe I've been in some hole for 18 years, but I have never, until these last few months, been aware of any distinction between rigs drilling for oil and those drilling for gas offshore. I worked at Offshore Data Services for 5 years and we never categorized rigs in that manner, nor did anyone ever ask the question. Must be something new going on here. big atoffshore.com

To: upanddown who wrote (56131)	12/6/1999 11:00:00 AM
From: BigBull	Read Replies (1) \| Respond to of 95453

John, In view of the Dogs response, I proffer the following Matt Simmons speech, WITH THE UTMOST HUMILITY, as a partial explanation to your question. Scroll down to the last 1/3 of the speech were Simmons discusses NG. He even states the NG bubble has burst. CAVEAT CAVEAT CAVEAT: I'm an investor type, not an oil man. simmonsco-intl.com NOTE: As an investor type, I fully reserve the right to be full of beans as I often am when discussing da bidness. I opine on a strictly FWIW basis. Private Poltroon Bull <g>