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

To: isopatch who wrote (74887)	9/27/2000 3:47:29 PM
From: Kavika	Respond to of 95453

Bravo.

To: isopatch who wrote (74887)	9/27/2000 3:57:20 PM
From: Frank	Read Replies (2) \| Respond to of 95453

Iso-on a philosophical level: Why do you think there is such a substantive difference between this thread and the Yahoo energy threads? I fully agree with you--the Yahoo discussions are close to juvenile on many boards. RIG seems to be the best of the bunch but I really have stopped reading a number of them because all it amounts to is bashing each other. Is it because we pay a fee here? We don't pay much but maybe even $50 keeps the riff-raff out--Frank

To: isopatch who wrote (74887)	9/27/2000 4:39:27 PM
From: upanddown	Respond to of 95453

Nice find for Shell in the deepwater GOM. This is Shell's 40th find in the GOM deepwater. For all our sniping at the ever-pessimistic Moody-Stuart, the guy is starting to spend some dough. He just green-lighted Na Kika, a $1.3B project, that will be their 16th deepwater project. Still needs approval from partner BPA. It is a couple of miles from Ursa, which at 100,000 barrels of oil and 140 million cubic feet of gas may be the biggest producer in the deepwater. Ursa is also Shell so they can tap into existing infrastructure. Hoping JayRay gets some bidness from Na Kika since they did Ursa. Does the text say that they will install a NEW floating production facility or use an existing one (presumably Ursa)? I expect deepwater development expenses to be at least 10X that of deepwater drilling in the next ten years. JRM should get their share. biz.yahoo.com TIA, John

To: isopatch who wrote (74887)	9/27/2000 6:35:08 PM
From: Sharp_End_Of_Drill	Read Replies (4) \| Respond to of 95453

The Law of Unintended Consequences & the direction of oil flow - According to Bloomberg prices in London for Brent closed at $31.13, and per INO light sweet crude closed at $31.42 today. At a spread of $0.29 the driving force for crude traffic is yet again strongly toward Europe & not the US. That could at least partially explain why heating oil is also being shipped to Europe in recent days - they're willing to pay for it while we whine. Political tampering in the crude supply is making this situation much worse, not better. It will be interesting to see if this issue gets any air time with the professional analysts. Another topic, I'm not your typical Politically Correct poster, but I'm not a flamer either. My comments are always directly related to money making potential - not to personal attacks, if anybody has taken them as such I apologize. I don't pretend to be a guru - I just dig for value and an underlying story, and sometimes that clashes with people's emotions. If you make a bad call you are human, if you make it twice you are perhaps accident prone, if you make it over and over and over again I think you should eventually be taken to task - especially if you enjoy a good deal of credibility on a public thread. That's not bickering - it's intelligent conversation. I don't like PGO for several reasons. 1) Seismic is dead right now. The majors & independents all have large seismic libraries processed and big backlogs of hot prospects to drill, and frankly the majors just aren't going through them very fast as they haven't unleashed the capex. Another factor is the mergers of majors and also of seismic companies - with less of them out there the libraries have been consolidated thereby shrinking the fragmentation that can lead multiple companies to pay for the same information over and over again. Also, a large amount of seismic was shot on a non-exclusive basis and made available to any bidders - this has reduced the need to contract new shots as multiple companies can now get the same information. 2) The company is Norweigian which means they have anything but shareholder interest in mind. Their main criteria is pseudo-socialist full employment, and a repatriation of capital to the homeland, neither of which are always conducive to the bottom lines or foreign shareholders pocketbooks. 3) They've had some serious bumbles on the newbuilds. They touted the Ramforth rigs as great platforms because they are so stable - only to have the British government force them to recall one for shipyard improvements to improve the lousy motion characteristics. That's pretty embarrassing, and costly to boot. GLBL - don't get me wrong on this one. I've said they've been a dog in the past compared to others in the industry which is quite true - you can compare them to damn near anybody in the service companies and see they have lagged. They are a late cycle play that will get going when lots of new offshore developments go in and need pipelines. They have a bright future, but if you've been sitting on them for the last year or so you've missed out on a lot. Sharp