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

To: SliderOnTheBlack who wrote (60474)	2/17/2000 10:45:00 AM
From: SliderOnTheBlack	Respond to of 95453

Interesting comments from Saudi minister today... <<Saudi Arabia's Naimi Says Oil Prices to Decline as Winter Demand Fades Saudi Arabia Says Oil Prices Have Peaked, Yonhap Says (Correct) (Corrects last line in 11th paragraph to read raising production and not curbing.) Seoul, Feb. 17 (Bloomberg) -- Saudi Arabia, the world's biggest oil producer, said oil prices have peaked after reaching a nine-year high and should decline as winter ends and demand slows in the U.S. and Europe. Saudi Arabian Oil Minister Ali al-Naimi, responding to South Korean concerns regarding high oil prices during a meeting in Seoul, said ``international oil prices will drop under $25 a barrel when peak demand season is over,' reported Korea's official Yonhap news agency.>> Well; well now know two things. 1. The US will NOT use the SPR anytime soon, or in the near future. 2. OPEC is doing EXACTLY what they should be doing - "TALKING" down prices and standing firm - re: the comments above. ... I dont think they should ease untill mid-summer; which is when they will ease. API's will take out another 20M boe , or another 10% imho; setting up a 24 Month-ish fundamental floor supporting crude prices above the low-mid $20's. I think OPEC would like $27-$30 Brent for another 18 mos. or so. Good growth news out of Europe today - if OPEC does the right thing; and everything they are doing points to the fact that they are; we are setting up a nice multi-year boom. Nat Gas is also a coiled spring. Contraseasonal peaks are now the targeted profit taking point. Folks - load your NBL EOG BR XTO right here, right now - and look to sell at peak summer demand. Sept - was our peak - as it was off the end of a strong summer demand surge and on the cusp of all the speculation of what Winter held. Nat Gas is the hedge to anything that OPEC would surprise us with negatively. NBL EOG BR XTO are virtually guaranteed money in the bank - 50% upside plays... 10* Mega Lock - Pick of the Litter - 1st Round Draft Pick - Slam Dunks... Add a little UPR PXD - for crude leveraged, oversold financial turn around stories in transition, that are STRONG value plays & own a little FLC DO RIG HAL BHI - couple of small caps for a basket; and one could enter the Oilpatch fresh today and crush this market... Add that margin on real bottomish retraces - like if we see $32-33 HAL again, $21 BHI, FLC in the $11's, RIG sub $30, $20-21 NBL, $14-$15 EOG etc... wait for real support - then start building "some" margin in a step by step process as we approach the OPEC meeting and get a clearer picture of what they are likely to do. The bet today - is they maintain cuts and agree to reasses policy in mid summer. Their stance on "talking down prices" on the premise of a re-trace to sub $25 as we exit peak heating season is BEAUTIFULL.... just what they need to do. Then - let those API's crush the short's in the futures markets as we pull out another 20+ M boe from supply... blasting thru the $30's to perhaps a speculative bounce off of $40 say on a Memeorial Day API report perhaps... The future's so bright - I gotta wear shades...

To: SliderOnTheBlack who wrote (60474)	2/17/2000 10:55:00 AM
From: ItsAllCyclical	Read Replies (2) \| Respond to of 95453

Shorted a little CAM today. Does anyone see the OSX action as a double top or will we retest and breakout soon?

To: SliderOnTheBlack who wrote (60474)	2/17/2000 11:36:00 AM
From: RBlatch	Read Replies (1) \| Respond to of 95453

Slider - What is your take on KEG at this level?? Time to buy yet? Cordially, RBlatch

To: SliderOnTheBlack who wrote (60474)	2/17/2000 12:38:00 PM
From: R. Murphey	Respond to of 95453

To all: UTI numbers out- beat Zack's Q4 est. by 150% Re: "coiled spring" - I fully agree........ "Profitable" on avg. 57% rig utilization. UTI News: <snip> HOUSTON--(BUSINESS WIRE)--Feb. 17, 2000--UTI Energy Corp. (AMEX:UTI) today reported net income of $937,000 for the three months ended December 31, 1999, compared to a net loss of $405,000 for the comparable three-month period in 1998. On a per share basis, the earnings were $0.05 per share on 18,778,000 average diluted common shares outstanding, compared to a loss of $0.03 per share on 15,997,000 average common shares outstanding for the fourth quarter last year. Revenues for the quarter increased 28% to $52.0 million from $40.7 million for the comparable quarter last year. For the twelve months ended December 31, 1999, UTI had a net loss of $2.6 million, compared to a profit of $7.9 million in 1998. On a per share basis, the loss was $0.15 per share on 16,992,000 average common shares outstanding, compared to earnings of $0.47 per share on 16,795,000 average diluted common shares outstanding for 1998. Revenues for the year were $155.8 million, versus $186.2 million for 1998. Mark S. Siegel, Chairman, commented, "The increase in the activity level in the fourth quarter -- in which utilization averaged 57% as compared to 39% in the prior three quarters -- was a significant factor in UTI's return to profitability. Although land drilling activity increased in the latter part of 1999, reports indicate that oil and natural gas reserves have been declining on a seasonally adjusted basis. We believe UTI is well positioned to benefit from anticipated increases in drilling activity to replenish these reserves." Vaughn Drum, President and CEO, commented, "In 1999, a tough year for the drilling industry, UTI generated positive EBITDA throughout the year, with EBITDA of $8.5 million in the fourth quarter and $21.6 million for the year. Moreover, in 1999, UTI was able to increase significantly its drilling assets and to streamline its operations. We believe UTI is now well positioned for anticipated increases in activity." <snip> Regards, Bob