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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 (70696)	8/10/2000 11:37:34 AM
From: JungleInvestor	Respond to of 95453

VPI had a tremendous quarter ($0.72 before non-recurring charge vs. $0.09 prior year) and the stock price was down most of the morning (even now). Same thing happened to EEX which had excellent Llano news and excellent success on new onshore gas properties. Yet oil is over $30/bbl and NG over $4.40. The E&P's have the same problem as Rodney Dangerfield - they get no respect. Based on VPI's current quarterly earnings x 4, they have a PE less than 7. When are investors going to discover this sector? biz.yahoo.com biz.yahoo.com biz.yahoo.com

To: jim_p who wrote (70696)	8/10/2000 11:42:17 AM
From: JungleInvestor	Respond to of 95453

Things may be looking up for my $1 lottery tickets (AKA Seven Seas Petroleum): HOUSTON--(BUSINESS WIRE)--Aug. 10, 2000--Seven Seas Petroleum Inc. (AMEX:SEV - news; TSE:SVS.U - news) announced today that it commenced trucking production of crude oil from the Guaduas oil field, located in Colombia, South America, on Wednesday, Aug. 9, 2000, marking the first day of commercial production in the history of the Guaduas project. Seven Seas received the remaining regulatory approval from the Colombian Ministry of Mines and Energy that was required for commercial production on Friday, Aug. 4, 2000. During this initial stage of oil production, Seven Seas expects to achieve production rates of between 4,000 barrels per day (``Bbls/d'') and 6,000 Bbls/d. At a West Texas Intermediate oil price of $25 per barrel, gross production of 4,000 Bbls/d to 6,000 Bbls/d will generate between $0.9 million and $1.4 million in net revenue per month to Seven Seas. ``The commencement of trucking production is indeed a milestone for Seven Seas and our partners,'' stated Robert A. Hefner III, chairman and chief executive officer of Seven Seas. ``For the first time in Seven Seas' history, we will be generating sustained revenue, placing us on stronger financial ground and preparing us to proceed with the full development of the Guaduas oil field, as well as the exploration of the subthrust Dindal prospect.''