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

To: Warpfactor who wrote (62835)	3/24/2000 11:55:00 AM
From: Tomas	Read Replies (3) \| Respond to of 95453

Qatar: No shortage of crude, no need for further increases Vienna, March 24 (Bloomberg) -- Following are comments by Ramsey Salman, a senior advisor to the oil minister of Qatar: ``Prices are $7 off their peak -- no longer over $30 and so no longer high. ``Obviously, a lower price reduces the pressure on OPEC to increase output. ``Already OPEC output is more than 1 million barrels per day above quota, and non-OPEC countries are over-producing by close to 1 million barrels per day, so together there is an extra 2 million barrels in the market removing the need for further increases. ``I don't believe there is a shortage of crude in the market. In the Far East people are begging to suspend liftings. ``The fundamentals do not match an output increase. I only hope OPEC looks at the reality, looks at the fundamentals, which clearly show there is no need to increase output. ``The market is balanced, but perhaps to show good faith OPEC will agree to increase output by 500,000 barrels per day, which they could say will be above current quotas but the reality will be it will be over (current) production. ``Oil inventories are no longer at 80 days of (use) but they are still at 76 days, which is not really low.'

To: Warpfactor who wrote (62835)	3/24/2000 12:07:00 PM
From: SliderOnTheBlack	Respond to of 95453

BSNX - drlling results due soon ? I love the "V" bottoms in the past with BSNX. Every breach of $10 led to a "V bottom" bounce thru $16 - $20. Post on Yahoo talking about what BSNX mentioned earlier: biz.yahoo.com West Delta Block 121 news from Vastar by: comingback_strong_at_bsnx 3/24/00 11:32 am Msg: 170 of 170 Anyone else hearing the good news is coming from 121 ? Drilling results will be fantastic in due time. Blocks 121 - 122 with SFS & VRI will be prolific,#A3 production coming on line and 0146 #D-5 well on West Delta Block 58 and 98 will send this running back to $20 with $2.70 plus gas. Our time will not only come, its here. No one is recognizing it however ? Back up the brinks truck on this one. Noticed John Greene bought $100K at $10; he will double his money by May. >> They have 100% working interest on the 10 blocks they just bid: biz.yahoo.com fundamentals: Price to book: 1.21 Debt/ Equity ratio is superb @ .17 cfps - $3.20+ for 2000 = 3.5 x cfps vs. its historic avg of nearly 6-8 Earned .24 last qtr with $2.24 gas & $16.87 oil - poor hedges have expired - now only approx 16% of production going forward is hedged. Earnings should easilly exceed $1.00 current run rate for 2000. 80% + of productionis Nat Gas - with present prices over .50 cents per mcf higher than they realized last qtr ! This should spike post Q1 earnings release. New production coming online soon as well. * numerous posts on the NASDQ "MM" games on this one - well noted; as numerous times I did not get filled on my limit orders at the "ask" - someone's keeping the lid on this one ? Insider bought $100K the first legal day he could - after the drilling results were released - increased his holdings by 50% fwiw. BSNX has a much better balance sheet -( nearly the lowest debt in their sector)than FST - but, FST looks cheap here as well. I'm adding bits of UPR in the low $11's if seen - like it running to $16 within a month... BSNX looks like the cleanest, most fundamentally supported E&P with the least downside risk - and I love the prior "V" bottom runs thru $16.This reminds me of XTO at $8 sitting here at $11.

To: Warpfactor who wrote (62835)	3/25/2000 8:10:00 PM
From: hitsoft17	Read Replies (1) \| Respond to of 95453

Warp, I like GLM because of it's exposure to the GOM and quality of it's management. It also seems to be attractive to institutions. I have owned it for some time and have recently added. I also like TMAR as I think the boaters haven't caught up with the drillers. TMAR has new and more recently refurbished boats than some competitors because of the refurb program last year. As soon as they get thier boats out of the north sea and into the GOM they should do well. As one poster put it back some time ago when TMAR was bumping against 4, " That pipe ain't going to fly out to those rigs by itself". TMAR is currently around 6 1/2 and could hit 9 shortly if the OS bunch takes of. Regards, Hitsoft17