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

To: isopatch who wrote (85884)	2/1/2001 11:25:10 AM
From: Roebear	Respond to of 95453

isopatch, This will be my last table pounding for awhile... OSX down 3%+ and TESOF hasn't budged at all. . But in Toronto its up a dime on nice volume. Somebody bought a nice sized block there as I type. I hear that TESOF is doing a road show for Casing Drilling and also have heard rumors that they are doing some real nice things with that. Seeing as this matches up with their news release from Jan 24 and the stock action in Toronto and to a lesser extent NY, I guess I'm going to have to drill deeper into the prospects for Casing Drilling. But despite all that Casing stuff, the fact remains that they are very likely at capacity for Top Drive rental units and should be turning in some real nice earnings the next few quarters. Also the support for NG at these levels seems to be holding with strong support in the 4.60 area chart wise, and while it's not 9 dollars, substitution won't be a problem in the 4 to 5 dollar range either. A lot of wells will get drilled at these price levels and considering NG fundamentals they are building more Top Drive units to match that demand (about 25% more, if I remember the last CC right). Consequently, I see little TESOF as one of the better late cycle plays in the energy sector without considering the Casing Drilling, but with the potential for a Grand Slam bases loaded always possible with their pristine balance sheet (current ratio almost 9 to 1 and over a dollar cash per share, conservative LT debt) and Casing Drilling. I eat my own cooking, i.e. I'm in TESOF up to the chin at least. I believe the OBV/acc/dist and money flow divergence is showing smart money buying and it makes the sym triangle on the daily likely to break up while the weekly is clearly very bullish. IMHO, if there is a future for energy, there is a bright future for TESOF! When I am invested to this extent I usually call and grill the company. I'm posting this now before* I call so I can avoid any possible conflicts on any info they may share, everything I have shared so far is in their last CC (conference call) or readily available info on the net. Except the rumors* of course, which we all hear from time to time on the net. So I won't be posting any more details about TESOF (probably to everyone's relief) until their earnings and likely CC. I have found them honest and forthright whenever I called them in the past and would recommend calling to anyone interested in the company. I will of course post whether I sell, which would be an indicator. I can't justify buying anymore even if it goes to the moon, not unless Frank will lend me some of his profits, VBG. BTW, TESOF opened and hit 11 bucks here in US before going 10 15/16. Edit: NG seems to be holding HERE at support with better support below in 4.60 area. Best of luck, Roebear