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

To: Razorbak who wrote (87656)	2/18/2001 3:15:28 PM
From: Tomas	Read Replies (1) \| Respond to of 95453

Nortel meltdown fuels oil and gas - Calgary Sun, February 17 By Todd Nogier, Business Editor What was bad for Nortel yesterday was good for the oil and gas industry as petroleum stocks soared, sending the sector's index on the Toronto Stock Exchange to a record high. The index, made up of petroleum exploration, production and service companies, rose 232 points on the day to close at 8,776, it's highest point ever. Analysts say investors' flight from Nortel Networks and other high-tech issues found a home in "old economy" companies such as oil and natural gas. "It's a rotation that we've been seeing for the past year or so -- when the techs get hammered, the oils have tended to do well," said Garey Aitken, a portfolio manager at Bissett Investment Management in Calgary. ...