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

To: The Ox who wrote (75345)	10/2/2000 4:20:41 PM
From: Think4Yourself	Read Replies (1) \| Respond to of 95453

There is one big difference between the tech run and the energy run: The energy run is based on earnings and fundamentals, and flies in the face of bearish analysts who know nothing about the industry. That being said I am not comfortable going on max margin usage now. In February I was comfortable doing that because the energy stocks were ridiculously undervalued. Now many are just very undervalued, and some of the large caps are fairly/over valued. Am looking to add some drillers on any big pullbacks.

To: The Ox who wrote (75345)	10/2/2000 4:21:18 PM
From: The Ox	Read Replies (1) \| Respond to of 95453

Washington (Platt's)--2Oct2000/244 pm EDT/1844 GMT US Energy Secretary Bill Richardson Monday said the Clinton Administraion wants as much heating oil manufactured in the US as possible to be kept in the country. "We want to be sure the product stays princially in the US," he told reporters after unveiling new fuel efficiency guides. Richardson is meeting with East Coast refiners and heating oil distributors later Monday to discuss ways to bring more heating oil to the Northeast. "We're going to try to find ways with refiners... to get product out to the market," he said. Richardson said he was encouraged by reports that the heating oil market is easing as more product becomes available.

To: The Ox who wrote (75345)	10/2/2000 4:37:00 PM
From: BigBull	Read Replies (5) \| Respond to of 95453

Michael sorry you feel some are hyping gold. I expect most want to discuss oil related topics on this board so this will be my last post on the subject. Unfortunately, this venue (SI Strictly Drilling) has been one of the only ones I know of where the subject has been discussed somewhat rationally. I hope you can empathize at least to a small degree with my plight. At any rate I do not wish wear out my welcome here so this will be my last post on the subject here. nationalpost.com On the supply side, the analysts forecast there will be a 24% supply deficit this year, or a shortfall of 1,000 tonnes, with mine output far short of demand. The mine output is further reduced by mine closures since the "industry [is] economically unsustainable at US$275 per ounce. Mine supply is set to fall as a grinding three-year bear market takes its toll on producers." Gold production fell last year in each of the five top producing nations (South Africa, the United States, Australia, Canada and China) and the analysts believe this "trend will accelerate if gold were to stay in the US$250 to US$280 per ounce range." The so-called "disaster-level" prices of the past three years also have led to a 70% collapse in exploration spending.

To: The Ox who wrote (75345)	10/2/2000 8:29:50 PM
From: Tommaso	Read Replies (1) \| Respond to of 95453

I don't know what the other three replies may have said, but I do hope that the vague uneasiness displayed by the general securities markets is not your idea of "doom and gloom." We are still very much in the midst of a period of economic euphoria matched only briefly in the history of the human race. True doom and gloom is when nobody dares to buy stocks at all, when the best-run companies are at P/Es of 5, and when dividends of dividend-paying companies are higher than bonds. Oil and gas stocks are at least based on something tangible that everyone has to have--to stay warm, to cook, for transportation, to manufacture fertilizer for crops, and innumerable other purposes.