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

To: Mark Adams who wrote (59862)	2/6/2000 4:58:00 PM
From: Big Dog	Respond to of 95453

Mexico's Pemex says gets funds for oil projects MEXICO CITY, Feb 6 (Reuters) - Mexico's state oil and gas monopoly Pemex said Sunday it had secured an additional $498 million from the U.S. Export Import Bank to fund investment in some of its most productive oil fields. Pemex said in a statement it would get $411 million, on top of $375 million already borrowed, for the Cantarell oil field, and $87 million to finance the Grijalba delta project. It added that $161 million had already been agreed for the Burgos project. The Cantarell offshore field, the Grijalba delta and Burgos fields together produce 51.5 percent of Mexico's crude and 42.7 percent of its natural gas. ''The total so far granted by the U.S. Eximbank to strategic Pemex projects is $1.278 billion,'' Pemex said.

To: Mark Adams who wrote (59862)	2/6/2000 6:15:00 PM
From: Gottfried	Respond to of 95453

Mark, the '97 day rates certainly look like a bubble. I don't expect to see them again. Gottfried

To: Mark Adams who wrote (59862)	2/6/2000 8:06:00 PM
From: BigBull	Read Replies (2) \| Respond to of 95453

Aberations/Day Rates. The Oil Bust of 98/99 was the true aberation. Oil prices, adjusted for inflation, approached levels not seen since the great depression of the 30's. All this with a booming US economy and US oil demand at substantially higher levels than in the thirties. In the thirties there were no SUV's, interstate highways, 3,000 sq ft housing developments, and the Baby Boom was not even a gleam in the eye of America's men and women. This oil bust was truly one for the record books. The only surprise about the day rates, is that they did not go even lower. I would be extremely cautious in extrapolating trend information out of this particular bust. I am looking for an eventual "snap back effect" in day rates similar to that already seen in oil prices. The oil patch in the western hemisphere is really starting to heat up again. But don't believe me, pick up a copy of Big Dog's latest issue of Offshore Drilling Bits. The latest issue is chock a block full of info on the new projects going on the GOM and South America. It may temper your views somewhat. Truly an outstanding issue. I believe the Dog still offers a complimentary introductory issue for potential new subscribers. This issue is a good one to burn the freebie. JMVVHO Bull