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

To: Tomas who wrote (60517)	2/18/2000 7:05:00 AM
From: Tomas	Read Replies (1) \| Respond to of 95453

"With crude oil prices at $30 a barrel, oil stocks look insanely cheap," Phillips Petroleum Co.'s (P-N) executive vice president of upstream operations said at the PaineWebber conference in New York, adding at current prices he'd move some of his own money into domestic oil shares. He also said that if the company fails to find a worthwhile acquisition in the next nine months, the board will consider buying back some of its own shares. It is a complaint being echoed throughout the oil industry. Texaco's Chief Executive Peter Bijur last week pointed the finger at the flood of money going toward technology companies as the cause of the oil sector's poor performance, but he too noted there is broad skepticism that oil prices will stay near $30 a barrel. From Financial Post, February 17