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

To: SliderOnTheBlack who wrote (56491)	12/8/1999 3:56:00 PM
From: ItsAllCyclical	Read Replies (2) \| Respond to of 95453

Slider, your comments about here's why we rallied... At this point I don't think it's "news" related. We've been trading lower on all sorts of good news. Everyone was waiting for an interday reversal to jump on board again. They finally got a chance to jump in cheap on really bad API's. Imho it's still about momentum with fundamentals as a distant backdrop and technicals in the foreground. Very much respect your opinion, just respectfully disagree that's it's anything "news" related... The fact that we ignored bad news is THE NEWS imo. We still need to follow this rally up tomorrow. If we fail and go lower I'll be very disheartened. Still the 1st 2 minutes of the ball game.

To: SliderOnTheBlack who wrote (56491)	12/8/1999 4:04:00 PM
From: SliderOnTheBlack	Read Replies (2) \| Respond to of 95453

VPI up 9% - make that 12% ! for me today - thank you lord... here's some "DD" on my # 1 play fwiw. biz.yahoo.com The Company currently has no oil hedges in place. Relatively modest changes in either oil or gas prices significantly impact the Company's results of operations and cash flow. However, the impact of changes in the market prices for oil and gas on the Company's average realized prices may be reduced from time to time based on the level of the Company's hedging activities. Based on third quarter 1999 oil production, a change in the average oil price realized by the Company of $1.00 per Bbl would result in a change in net income and cash flow before income taxes on a quarterly basis of approximately $3.3 million and $4.5 million, respectively. A 10 cent per Mcf change in the average price realized by the Company for gas would result in a change in net income and cash flow before income taxes on a quarterly basis of approximately $0.9 million and $1.4 million, respectively, based on third quarter 1999 gas production. Oil and gas sales increased $48.7 million (75 percent), to $113.6 million for the third quarter of 1999 from $64.9 million for the third quarter of 1998. A 71 percent increase in average oil prices, coupled with a 14 percent increase in oil production, accounted for an increase in oil sales of $41.6 million. A 14 percent increase in average gas prices, coupled with a 19 percent increase in gas production, accounted for a $7.1 million increase in gas sales for the 1999 third quarter as compared to the year-earlier quarter. The 14 percent increase in oil production and the 19 percent increase in gas production are primarily the result of the acquisition of the El Huemul concession in Argentina in July 1999. Other income increased $4.4 million (1,467 percent), to $4.7 million for the third quarter of 1999 from $0.3 million for the third quarter of 1998. The increase is primarily the result of the recognition of gains of $3.3 million resulting from the sales of certain non-strategic oil and gas properties during the third quarter of 1999. Lease operating expenses, including production taxes, increased $2.4 million (8 percent), to $31.9 million for the third quarter of 1999 from $29.5 million for the third quarter of 1998. The increase in lease operating expenses is due to the acquisition of the El Huemul concession in Argentina in July of 1999. The additional costs as a result of El Huemul were partially offset by cost reductions resulting from the rebidding of certain operating services and supplies and the restructuring of certain domestic field operations which began in late 1998. As a result of the 15 percent increase in production on an equivalent barrel basis and the Company's cost reduction efforts, lease operating expenses per equivalent barrel produced decreased six percent to $4.58 in the third quarter of 1999 from $4.88 for the same period in 1998. ========================================================== The "real deal" & "THE" play on crude oil vs. nat gas here. I can't pump this - it's soooooooo fundamentally powefull that it's pump-proof ~ Read the #'s & get on board folks - the crude oil train is leaving the station - see ya at an UNHEDGED $30 ! - ps, did you read above - what ea $1 increase in crude does for this little puppy ! Hoooooooooooooooooooooooooooo Haaaaaaaaaaaaaaaaaaaaaaaaaaa ~ see; it turned out to be a day of opportunity for allmost all of us today... more than one road to successs. Cheers all ... whataday