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

To: SliderOnTheBlack who wrote (57880)	1/5/2000 9:28:00 AM
From: Meridian	Respond to of 95453

Slider, Vick is tough. What an athlete! Virginia Tech will be back and better next year. API's not that bad this week considering the revisions of last week and the smaller DOE draw. Also, the Gartner Group IT Y2K chief prognosticators believe that 65% of Y2K effects/damage/surprises will happen AFTER Jan 1 2000 ... so maybe we get some kind of supply disruption. Net net, supply/demand looking awfully good relative to 12 months ago. Non-OPEC supply will fall this year ... that's my prediction. North Sea used to account for most of the Non-OPEC production growth ... not any more. Brazil taking over, but not in a big enough way. Look at TLM's North Sea fields ... declining at 10-15% easily, maybe more. No real construction going on there. Small tie backs, but I don't think production rises. Companies will have to acquire smaller E&P's in order to placate shareholders. They will issue stock/debt and they will drill and they will buy bite-sized $1-$5 billion enterprise value E&P's. Look at the Canadian E&P's - multiples just as low, and cheap Canadian $. BIg US co's will start to look North in 3-6 months. Will be an interesting year, Cheers gmbler