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

To: SliderOnTheBlack who wrote (56334)	12/7/1999 4:02:00 PM
From: monu	Read Replies (1) \| Respond to of 95453

More negative news (at least that's how the market sees our group presently). biz.yahoo.com Next a positive API and we can count on an additional 5% drop. Curious, who's on margin here? My next step will be.

To: SliderOnTheBlack who wrote (56334)	12/7/1999 4:03:00 PM
From: Crimson Ghost	Respond to of 95453

Prediction: When the E&Ps rally the OSX will soar right along with them.

To: SliderOnTheBlack who wrote (56334)	12/7/1999 4:27:00 PM
From: Douglas V. Fant	Respond to of 95453

Slider, You probably saw this...: Tuesday December 7, 3:28 pm Eastern Time FOCUS-U.S. oil firms' domestic spending to rise - survey (Adds details on majors paras 4 and 6, quotes paras 7-9) HOUSTON, Dec 7 (Reuters) - Almost two thirds of U.S. oil companies plan to increase domestic exploration spending in 2000 but less than one third plan to raise spending on foreign exploration, according to survey results released Tuesday. The annual survey published by consultancy firm Arthur Andersen found that 64 percent of U.S. oil companies planned to raise spending on domestic exploration compared with 29 percent late last year when oil prices hit 25-year lows. Twenty nine percent of U.S. companies plan to increase their exploration spending outside the United States, compared with 16 percent at the time of last year's survey. The survey, conducted in late October and November, is based on responses from executives at 89 U.S. oil companies, including seven ``majors': Chevron Corp (NYSE:CHV - news), Conoco Inc (NYSE:COCa - news), Exxon Mobil Corp (NYSE:XOM - news), Marathon Oil (NYSE:MRO - news), Phillips Petroleum Co (NYSE:P - news), Texaco Inc (NYSE:TX - news) and Total Fina SA (NYSE:TOT - news). It does not seek to quantify changes in oil companies' planned spending, nor does it weight companies' responses according to their relative size. Among the seven majors, the survey found that only two planned to increase domestic exploration spending next year while three planned to increase foreign exploration spending. Victor Burk, managing director of energy industry services at Arthur Andersen said the survey reflected the difference in focus between the majors and smaller ``independent' producers. Independents ranked the United States and Canada as the most promising aeas for exploration while the majors ranked West Africa and the Middle East highest, Burk told reporters. ``The majors are focusing their domestic exploration and development activities in a few select areas, such as the deepwater Gulf of Mexico,' he said. Respondents to the survey expect an average price of $20 per barrel for West Texas Intermediate crude oil in the years 2000 to 2003 with an increase to $2.80 in 2004. They expect the average price of natural gas for delivery at the Henry Hub to be steady at $2.50 per thousand cubic feet from 2000 to 2002 then rise to $2.60 in 2003 and $2.70 in 2004.