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

To: Telemarker who wrote (80440)	11/30/2000 7:00:08 PM
From: jim_p	Read Replies (2) \| Respond to of 95453

Telemarker, Let me help a little, in the first place a leveraged E & P selling at 2 times cash flow with $30 plus oil and $5 plus gas is really selling at 4-6 times cash flow using what the market perceives to be normal prices going forward factoring in a hard landing. The other thing to consider is when the tide goes out (as it is now going out), over priced stocks and the under priced stocks will all be left on the same beach. Jim