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Politics : High Tolerance Plasticity -- Ignore unavailable to you. Want to Upgrade?

To: jim_p who wrote (959)	3/5/2001 11:07:19 AM
From: Razorbak	Read Replies (3) \| Respond to of 23153

Lundin Oil (NASDAQ:LOILY) Strikes Oil In Sudan Monday March 5, 9:46 am Eastern Time Press Release VANCOUVER, B.C.--(BUSINESS WIRE)--March 5, 2001--Lundin Oil AB (the ``Company'') (Nasdaq:LOILY - news) is pleased to announce that its wholly owned subsidiary, Lundin Sudan Limited, together with partners Petronas Carigali SDN BHD, OMV (Sudan) Exploration GmbH and Sudapet, have made a significant oil discovery on Block 5A, onshore Sudan. The Thar Jath discovery well, was drilled to a total depth of 1,820 meters and encountered 63 meters of net pay over two sandstone reservoirs, the Bentiu and the Aradeiba. The well flowed at a cumulative rate of 4,260 barrels of oil per day, from three drill stem test over both zones. Reservoir quality is excellent with high porosity and permeability. Appraisal drilling is due to start after the completion of another exploration well (Jarayan). The Thar Jath structure has an aerial closure of over 30 square kilometers and is directly on trend with the Heglig, Unity and other prolific oil fields operated by the GNPOC, a consortium that includes Petronas, Talisman, China National Petroleum Corp. and Sudapet. Production from these fields now exceeds 200,000 barrels of oil per day. Ian H Lundin, CEO, comments, ``This is a significant and exciting event for Lundin Oil. We have confirmed that the trend of prolific oil fields as seen in Blocks 1, 2 and 4 operated by the GNPOC consortium, extend into our Block.'' The drill rig is currently being mobilized to the Jarayan-1 well location, approximately 12 kilometers southeast of the Thar Jath-1 discovery. Upon completion of Jarayan-1 well the rig will move back to Thar Jath in order to drill the Thar Jath-2 appraisal well. In parallel, an extensive seismic campaign will be conducted over the Block as shown on the attached map. Lundin Sudan Limited is the operator with a 40.4% interest in Block 5A. Partners are Petronas Cargali with 28.5%, OMV (Sudan) Exploration GmbH with 26.1% and Sudaped with 5%. Lundin Oil AB is a Swedish independent oil company with exploration and production activities in eight different countries worldwide. The Company is listed on NASDAQ (symbol ``LOILY'') and the Stockholm Stock Exchange (symbol ``LOILB''). -------------------------------------------------------------------------------- Contact: Lundin Oil AB Ian Lundin, +4122 319-6600 or Lundin Oil AB Sophia Shane, 604/689-7842 www.lundinoil.com info@lundinoil.com biz.yahoo.com

To: jim_p who wrote (959)	3/5/2001 11:09:04 AM
From: JungleInvestor	Read Replies (1) \| Respond to of 23153

A couple of posts snatched from the SD thread on the March to May O&G rally. The last couple of years I loaded up on calls in the Dec to Feb timeframe, when the oilpatch was pummeled, and made out like a bandido (e.g., in offsetting my SEV losses and then some). To:Roebear who wrote (88342) From: Big Dog Sunday, Mar 4, 2001 8:25 PM View Replies (2) \| Respond to of 88352 From Frost: We have previously discussed historical trading patterns for E&P stocks in the early months of the year. This week's increase in E&P stock prices appears to be the beginning of a rally that has typically begun in early March and lasted through the summer as investors become comfortable with commodity price forecasts coming out of the shoulder months. In the past three years, E&P stocks have increased on average between 7% to 25% from the beginning of March through the end of June. So far this year the E&P stocks as a group have traded mostly flat. The fundamentals for energy stocks continue to be very favorable as commodity prices stabilize in an economically sustainable range that delivers excellent earning potential for the companies. This year the E&P's have the added benefit of potential sector rotation as they continue to report year over year increases in earnings, contrasted with other sectors of the economy that have traded at higher valuations but are now having to reign in expectations for future quarters. We believe investors buying stocks in the E&P sector in the next few weeks can realize a 10% to 20% increase in value in the next four months if a similar trading pattern holds true this year. We recommend investment in the following STRONG BUY rated stocks with over 50% upside to our target price that have traded flat to down in the first two months of 2001: Chesapeake Energy (NYSE: CHK), Cabot Oil & Gas (NYSE: COG), Forest Oil (NYSE: FST), Newfield Exploration (NYSE: NFX), Prize Energy (AMEX: PRZ) and Pioneer Natural Resources (NYSE: PXD). ----------------------- To:John R. Haley who wrote (88346) From: Tomas Sunday, Mar 4, 2001 11:11 PM Respond to of 88353 John, Frost is correct, the TSE Oil and Gas Index almost always goes up in March, and stays positive through May. See: Oil and Gas Sector Finds its Third Wind stockhouse.ca

To: jim_p who wrote (959)	3/5/2001 10:30:57 PM
From: Razorbak	Read Replies (2) \| Respond to of 23153

TSC: "One Bear's Bullish Bet" By Herb Greenberg Senior Columnist Originally posted at 11:14 AM ET 3/2/01 on RealMoney.com I'm being nothing more than a facilitator here, but I think it's necessary because the info is so compelling. It's the copy of a letter Doug Kass, of Seabreeze Partners, sent to one of his clients. Doug is an old friend whose thoughts on individual stocks have paralleled many ideas in my columns. (I say "paralleled" because the ideas didn't come from him!) He's a bright guy with a mind of his own. He's often quoted in Barron's, and recently has been quoted with some frequency by my pal Aaron Task. Late Thursday Aaron commented on why Doug, whom I have called a "bear's bear," has turned positive on many tech stocks. (And to think I thought I'd always be the first to catch a bear turning bullish; good job beating me to the punch, Aaron!) This letter, which adds to the increased flurry of disagreement in the market, merely spells out some of Doug's thoughts. Again, these quotes are from Doug Kass -- not me: o Fear is a necessary ingredient to a bottom and a necessary catalyst to a market rally. Fear abounds, in some measure, abetted by concerns that Greenspan doesn't understand the gravity of the economic downturn. I think that view is B.S. He is the maestro, and has gracefully maneuvered the economy down to a manageable (and inflation-free) level, and has also gracefully eradicated speculation (a concern that I have held for some time). o Stocks are starting to ignore poor earnings announcements, e.g., AMCC (AMCC:Nasdaq - news) missed big and the stock rallied. This means that the market has sufficiently discounted the eroding fundamentals. Same goes for GLW (GLW:Nasdaq - news) (layoffs announced? stock rises by 10%) and JDSU (JDSU:Nasdaq - news) (layoffs). o Wall Street analysts have given up hope. Tech stocks, which represented 29% of the S&P a year ago, now stand at 18%? 'Oops I did it again' ... the lowering of ratings on brokerage stocks by two major firms this week as ANALysts wake up to tepid trading volume and absence of underwritings ... where have these lagging indicators (analysts) been? The stocks had dropped by almost 50%, and now they recommend sell? ... MORONS. [Did I say Doug was opinionated?!] o Increased talk of a 1500 Nasdaq by previously bullish strategists and observers. o Increased queries into my partnership, which is short oriented...I have been inundated with interest. o Low volume sell off over the last five days, a sign that selling is drying up. o The broader market started to underperform the OTC, as investors irrationally sell what they can and what is liquid. o I hope this is helpful, remember I have been bearish as hell for two years. That said, I don't expect a spike up, just an orderly advance from depressed levels. Thanks, Doug. thestreet.com

To: jim_p who wrote (959)	3/5/2001 10:35:26 PM
From: Razorbak	Respond to of 23153

TSC on Fleck: "Big Rally? Not Until Investors Are Scared Witless and Stop Speculating" By Aaron L. Task Senior Writer 3/5/01 7:08 PM ET "Somebody's Been Sleeping in My Bed" Following a refreshingly upbeat tone in the weekend financial press, the Dow Jones Industrial Average rose 0.9% today, while the S&P 500 gained 0.6% and the Nasdaq Composite climbed 1.2%. Inclement weather, or really the threat of it, subdued trading, but the session boosted hopes that a sustainable rally is unfolding. Particularly uplifting to optimists was that separate warnings from LSI Logic (LSI:NYSE - news), Vitesse Semiconductor (VTSS:Nasdaq - news) and Cypress Semiconductor (CY:NYSE - news) failed to deter buying in general, or of chipmakers in particular. The Philadelphia Stock Exchange Semiconductor Index rose 5.2%, and each of the three offenders closed higher. On the other hand, today's action and all the newfound rally talk means "people have learned nothing in the past year," according to Bill Fleckenstein, of Fleckenstein Capital in Seattle. "You can't get a bottom when everyday people try to buy the SOX. The bottom is when you're scared to death and puke 'em out." As you might have guessed -- and as I noted late Friday in RealMoney.com's Columnist Conversation -- Fleckenstein, who runs $50 million but declined to discuss performance, has not joined the ranks of former bears who have recently become more optimistic, including Don Hays, Doug Kass, Richard Russell and Steve Leuthold. Instead, he believes many stocks remain wildly overvalued and that many investors aren't investing -- they're simply "chasing pieces of paper." "Even guys who didn't believe in the mania are looking for a big rally, but I'm not going to play that game," Fleckenstein said. "Everyone has got the same trade on -- they want to own [stocks] because they act well in the face of bad news or because Alan [Greenspan] is going to save the day. Maybe they'll get it right, but it doesn't seem likely." He remains short a host of names, notably chip and equipment stocks such as Lattice (LSCC:Nasdaq - news), Xilinx (XLNX:Nasdaq - news) (which warned after the close), Altera (ALTR:Nasdaq - news), Intel (INTC:Nasdaq - news), Micron (MU:NYSE - news), KLA-Tencor (KLAC:Nasdaq - news), Applied Materials (AMAT:Nasdaq - news) and Novellus Systems (NVLS:Nasdaq - news). He's also still short tech behemoths IBM (IBM:NYSE - news), Oracle (ORCL:Nasdaq - news), Dell (DELL:Nasdaq - news) and Cisco (CSCO:Nasdaq - news). Fleckenstein conceded there was an opportunity-cost to his going bearish on technology long before it was fashionable (or profitable). But he also noted (correctly) that many of his concerns -- notably the oversaturation in the PC industry -- have proven accurate, and frets most investors weren't nimble enough to be long and then get out (or get short) at the critical junctures. Maybe those expecting a rally now will be justified and "I'll get chased out," he mused. "But I'll be bullish when stocks represent value, and they don't represent value. It is still a Ponzi scheme." -------------------------------------------------------------------------------- Editor's Note: Tune in Tuesday morning for a special as the Taskmaster tackles the prickly issue of inflation, stagflation and recession and outlines how an investor can combat that three-headed beast. -------------------------------------------------------------------------------- Aaron L. Task writes daily for TheStreet.com. In keeping with TSC's editorial policy, he doesn't own or short individual stocks, although he owns stock in TheStreet.com. He also doesn't invest in hedge funds or other private investment partnerships. He invites you to send your feedback to Aaron L. Task . -------------------------------------------------------------------------------- thestreet.com