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Gold/Mining/Energy : Canadian Oil & Gas Companies -- Ignore unavailable to you. Want to Upgrade?

To: Yarek Szolomicki who wrote (7195)	3/24/2000 2:59:00 PM
From: Cal Gary	Respond to of 24927

Yarek, we will definitely know the details by Monday. The media obviously will ham it up with a 'what a relief' look at easing oil pricing (and gasoline/diesel pricing). Clinton is now involved, so oil must be pinching some american nerves. I suspect Libya, Algeria, etc are enjoying the moment. I believe the markets have already discounted the quota increase. The commodity futures prices in the subsequent months have already sifted marginally downwards across the board but not by much. Judging by the TSE Oil and Gas index recent sideways move, my guess is accumulation is taking place in this sector. Check out the chart on the index and world oil futures, I usually go to Rob Moss's website for this. Most firms I follow are still following their budget numbers of $18-20 USD/bbl, so prices even 8 months down the calendar is still well above this range. I expect increasing earnings from companies for the next 6 months or next two reporting quarters.