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

To: patron_anejo_por_favor who wrote (84894)	1/22/2001 1:18:16 AM
From: Douglas V. Fant	Respond to of 95453

Patron, Creo que, es un hombre mui amable y intelligente tambien amigo! I broke into a big smile when I read your note. I am working on a couple of deals, quietly, exactly as you described the market. As I tell the power companies- You don't need Enron to hold your pee-pee so that you can go to the bathroom- zig around the middlemen! So some seasonality will disappear- but in a few years. Right now we are generation short everywhere except Texas, New England, and in certain smaller western states. That fact will block, short-term any dampening of the seasonality in power pricing..... Looking at Chevron's and Devon's Year 2001 capital expenditure programs ($US 6.0 and 1.1 B respectively-big increases), the service companies look like the next round of winners...and also small cap tech stocks, priced at only 1/2 of historical norms currently....