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

To: jim_p who wrote (64046)	4/7/2000 10:39:00 AM
From: Think4Yourself	Respond to of 95453

I honestly don't understand folks reasoning about the OSX stocks. Yes, they are doing much better than last year, but this week we are hearing rumblings that now 2001 will be "the big year". That's what, the third or fourth time the "big recovery" has been pushed back? When one thinks of WHY the answer is obvious. The EnP's are repairing their badly damaged balance sheets with the dramatically increased cash flows. All are raking in the cash but most are only spending wnough to maintain or modestly increase production. The rest is going to pay down debt. Why are they doing this? Simmons & Co. recently stated it eloquently. The market is telling them in no uncertain terms that they have to be more efficient if they want to see their stock prices rise. Look at PXD's junk debt offering for confirmation. They pulled it, and then got lucky a few days later. OSX is definitely doing better but the only area of the OSX I REALLY like right now is the land based drilling in North America. That is due to the NG situation. The futures strip and the AGA numbers both confirm the need for more NG, a lot more.