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

To: BigBull who wrote (66448)	5/17/2000 10:22:00 PM
From: ItsAllCyclical	Read Replies (3) \| Respond to of 95453

I don't know about anybody else, but my gains of late have been quite nice. Maybe the OSX has only 10 pts left before hitting major resistance, but there are still plenty of laggards that have not caught fire. Even when/if we test that level I think we'll do so more than once. Just because we meet resistance doesn't mean all oil stocks will plumment. Glad I'm still fully invested here. Any cheap service plays left? MDR, GW, UFAB, SEI, PGO, FLC, NR, TESOF all look reasonable here.

To: BigBull who wrote (66448)	5/18/2000 7:29:00 AM
From: diana g	Read Replies (2) \| Respond to of 95453

Re Caspian Pipeline -- diana offers 'wet blanket' possibility --- ---I wonder if it's possible that the find has been overestimated purposely in order to influence pipeline decisions? ----------------------------- quote.bloomberg.com Bloomberg Energy Thu, 18 May 2000, 7:24am EDT 05/17 21:03 Russia Route Best for Kazakhstan Oil, Russian Official Says By Mark Drajem Washington, May 17 (Bloomberg) -- The cheapest and quickest route for Kazakhstan to export its oil is through Russia, not along the U.S.-backed route from Azerbaijan to Turkey, said Andrei Urnov of the Russian Foreign Ministry. ``For now it is faster to expand existing pipelines'' to Russia, Urnov told a meeting in Washington. ``As time goes on, the need for pipelines grows with the level of product.'' Fixing and building gas and oil pipelines in the Caspian region has been the source of both geopolitical and economic negotiations in the past years, as the U.S. has pushed for pipelines leading from the Caspian Sea to Turkey, bypassing both Russia and Iran. So far, neither the gas nor the oil pipeline backed by the U.S. has begun construction. But the $2.4 billion, 1,200-mile oil pipeline from Baku in Azerbaijan to Ceyhan in Turkey would get a boost if reports of a new oil discovery in Kazakhstan's portion of the Caspian Sea are confirmed. According to a report yesterday in the Washington Post citing unnamed U.S. officials and industry sources, the Kazakhstan oil field could hold more than 32 billion barrels of oil, making it the largest oil discovery in the past 20 years. Discovery of new oil ``means everything'' to Caspian pipeline projects, said Erik Kriel, a Caspian analyst in the U.S. government's Energy Information Administration. ``A lot of pipelines can't go forward unless there's more oil found.'' Urnov, who will meet the U.S. envoy to the region, John Wolf, tomorrow, said oil and gas should first move on the established transport routes, to Russia. ``Viable transport corridors are in place, and these should be used first,'' he said. On May 6, AO Transneft, Russia's state-controlled oil transportation monopoly, said it would start shipping crude oil from Kazakhstan to Russia through a new pipeline that bypasses war- ravaged Chechnya. ``The choice of pipeline routes shouldn't be politicized,'' Urnov said. -------------------------------------------------------------------------------- ¸ Copyright 2000, Bloomberg L.P. All Rights Reserved.