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

To: Tomas who wrote (59991)	2/9/2000 10:05:00 AM
From: Tomas	Respond to of 95453

OPEC Wants Oil Prices in $25-$27/Barrel Range, Paper Says By Sean Evers Riyadh, Feb. 9, 07:39 (Bloomberg) -- The Organization of Petroleum Exporting Countries, after restraining output and helping oil prices more than double, wants oil prices to remain in a $25-$27 a barrel range, the Saudi-owned Al-Hayat newspaper reported, citing a senior Saudi oil official. The international oil markets are now well-balanced between supply and demand, the Saudi official said, and added that OPEC wouldn't accept prices dropping $6 a barrel this year as analysts have predicted. The oil ministers of Saudi Arabia, OPEC's biggest oil producer, Venezuela, and Mexico plan to meet in Europe early next month to coordinate their positions ahead of OPEC's next meeting on March 27, the report said. (AL-Hayat 2/9) quote.bloomberg.com

To: Tomas who wrote (59991)	2/9/2000 10:18:00 AM
From: SliderOnTheBlack	Read Replies (2) \| Respond to of 95453

Danger Signals, or opportunity ? Oil majors, integrated, leaders APA BR weak... Even EOG's huge stock buyback announcement doesnt matter... Look at TX ARC - most of the major oils, OXY P UCL - most all the integrateds and the super Independants like BR APA EOG NBL - the weakness here is signaling that Institutions are leaving en masse~. I would exercise patience - as there is going to be some unbelieveable buying opps imho. Institutions are buying into the $18 Oil mindset and that prices are not sustainable. It does not matter either - that we will be highly profitable at $18 etc - this is a MOMEMENTUM MANIA driven - led market - period. We are getting NBL and BR at 5 year lows in THIS price environment ? APA back to the low-mid $30's with their performance and this price environment for Oil & Gas !?!?! Look at FLC - coming to the $11's, the $10's ? they've got some disappointing news yet to come - maybe the $9's ? - I am buying here now and will add proportionately more on ea $ down. DO I will add on weakness; watching RIG MRL for more softness. BHI still cheap, HAL at $32 ish is a dream. We are seeing the Instititional Fav Big Caps getting sold here. If OPEC extends cuts - these big cap, Institutional, "must owns" may be the play - especially when you factor in risk.There may be no reason to take on risk, or the smaller institutional interest of the mid -small caps ? Will BR, or NBL - break 5 year lows in this commodity environment ? Will EOG - fall sub $15 - with a 10+ Million share buyback on the burners ? Will APA break $30 here ? - these look like the plays when "risk" is factored in here - how can you pass these up on continued weakness here ? Calls may start to be the play again on BR NBL EOG and APA. The weakness in the Major's & Integrated's is baffling to me; given the fiscal discipline most are exercising. If Crude stays in the mid $20's - which I think it will; these companies are going to have HUGE, HUGE earnings upside and will HAVE to be the premiere sector for earnings visibility going forward. At $18 crude - they still support prices much higher than where we are... No one is buying the sustainability of crude here - these prices are coming back to last years pre-rally levels ! Now its not an environment of $16 Oil & $1.80 Gas with uptrending commodity prices - but, unknown to where they will reach; but instead - Phenomenally bullish present commodity prices and the worry of "how low will they go"...same prices - different scenario's... The bet paid off BIG the last time and there is only one question anyone needs to ask this time: Are these stocks better off today than they were last year ? Which bet - do you like better - then, or now ? - same shareprices - much different commodity prices - simply unbelieveable...