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

To: Tomas who wrote (56612)	12/9/1999 9:07:00 PM
From: Brent Hogenson	Read Replies (1) \| Respond to of 95453

XTO???? I am thoroughly confused. Yahoo is showing earnings last quarter @ .18, next quarter @ .22, this year @ .30, and next year @ .66. biz.yahoo.com XTO's press release: biz.yahoo.com The preceding press release says XTO earned .28 last quarter (cash flow from operations were .81), the CEO states that cash flow WILL EXCEED $1.00 in the 4th quarter. Further down the article, earnings for the first nine months were .87 so far this year. All this while selling oil at an average price of $15 per barrel and gas at 2.04 per Mcf. How can Yahoo and Excite for that matter be so far off in their estimates and what has already transpired this year? Can this company's fair value really be 2x forward cash flow? Or are their reserve depleting that much? I think I might be buying some XTO tomorrow. I tried to call IR but the main guy was in a meeting all day. I will try to reach him again tomorrow and if I like what I hear I will load up the truck.

To: Tomas who wrote (56612)	12/10/1999 7:44:00 AM
From: Crimson Ghost	Read Replies (3) \| Respond to of 95453

The energy stocks have two big problems that must be resolved before we can see major and sustained moves to the upside. First natural gas prices must rebound. Second and far more important, the oil industry is not going to hike capex too much until they see where oil prices settle after OPEC hikes ouptut next spring. As long as people are concerned about another oil price collapse, they will remain cautious on capex. But if oil price settle in the low 20s next spring after OPEC hikes output as many here expect, then we will be off and running to new OSX peaks in relatively short order.