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

To: hitsoft17 who wrote (63055)	3/27/2000 11:34:00 AM
From: Big Dog	Read Replies (1) \| Respond to of 95453

From Frost Securities: We think that the energy stocks, both E&P and oilfield service, are going to get a significant lift following the OPEC meeting next week and believe that investors portfolios should be overweighted in the energy sector at this time. Given that outlook for OPEC oil production and crude prices, we believe the dynamics of investing in the oilfield service sector are shifting again. We believe investors now seem less concerned about the potential downside risk in near-term oil prices. The downside risk to oilfield service stocks as it relates to oil prices seems limited at this time. Given the outlook for strong activity levels in the oil patch through 2001, upside earnings potential on average is improving dramatically. Accordingly, we believe the investment outlook for many of the oilfield service stocks is very attractive. U.S. Gulf of Mexico: Contracted offshore rigs in the Gulf of Mexico increased by four this week. It is now up nine rigs over that past three weeks. That represents the largest upward trend in more than 15 months. We expect an acceleration of drilling activity in the second quarter. It appears to be taking place slightly earlier than we expected and far earlier than the third quarter forecasts of many service companies and research analysts.