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

To: isopatch who wrote (75832)	10/9/2000 11:16:30 AM
From: heraclitus	Read Replies (2) \| Respond to of 95453

Is FGH being mistaken for a tech stock today?

To: isopatch who wrote (75832)	10/9/2000 11:30:35 AM
From: jim_p	Read Replies (3) \| Respond to of 95453

Iso, Sorry for the earlier post, I thought my response to you was a PM. Now that it's out on the table, my believe is that the NG situation is not as bad as most believe and the markets will correct much earlier than most believe. My experience over the last 25 years would tell me that when everyone turns optimistic that prices are not going down any time soon is when the cycle is about to be over. I tend to believe weather will play a big factor over this winter, but after that I would expect NG to fall back to the $2.50-$3.50 range next spring. I'm hearing similar comments from people I respect, like Tom Petrie and a hand full of others in the industry. The oil cycle is different story. I believe we have a year or two of higher prices until oil peaks, and I would expect oil to exceed $40.00 in the forth quarter and $50.00 a barrel in 2001. The big question on oil prices is both political and economic. I do believe the chances are greater than not that we will have a political event that will trigger an oil crises over the next year. I am also very concerned that a dramatic downturn in the Asian economies will have a negative impact on oil if we don't get a political event soon. Most historical oil shortages have been triggered by a change in perception caused from a political event. Jim