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

To: BigBull who wrote (71558)	8/24/2000 8:57:19 AM
From: Think4Yourself	Respond to of 95453

CNBC's Pisani talking about oil, NG, and the analysts. Common phrases: They were wrong, They've been wrong, how could they be so wrong...

To: BigBull who wrote (71558)	8/24/2000 8:59:20 AM
From: BigBull	Read Replies (1) \| Respond to of 95453

More calls for a Chinese SPR: insidechina.com The central government is aware of the "paramount significance" of a strategic oil reserve, said Xie Zhongyu, deputy director of the State Administration of Petroleum and Chemical Industries. Xie called for a State-controlled oil stockpile to protect the country from fluctuations on the world market and other uncertainties. "Domestic oil enterprises should also play a due role in buoying the country's oil reserve regime," Xie said. ------------------------------------------------------------ I don't know if the Chinese are actually going to do something here, still, I think this report is relevant information on a drilling board. Bull

To: BigBull who wrote (71558)	8/24/2000 9:10:54 AM
From: jim_p	Read Replies (1) \| Respond to of 95453

BigBull, I knew that would get your attention.<G> Jim

To: BigBull who wrote (71558)	8/24/2000 9:30:10 AM
From: isopatch	Read Replies (1) \| Respond to of 95453

Bull. And IF GRL does bring in major new offshore Indonesia field the crude will go straight to China and probably for a premium price by the time production comes on line. The stock price will really take off if this discovery well they are currently drilling is as big as I think it's going to be. A well established, relatively conservative oil company only waives off partners and takes down 100% of a 6 million dollar offshore well when they think they have a slam dunk on a major discovery. Wouldn't it be interesting if the Chinese national oil company decided to lock up a strategic petroleum reserve via making tender offers to buy certain oil companies with good oil reserves and hot prospects in the Pacific region? Granted with GRL there is GOC to deal with. So, am NOT predicting NOR expecting that particular deal will happen. Just one example of many possibilities. Let's face it, "when there's a will there's a way". And as China gets increasingly anxious to obtain oil security, a lot of hitherto to unimagined things are likely to start happening<g>. Isopatch