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To: kodiak_bull who wrote (1752)	3/16/2001 12:26:29 PM
From: upanddown	Respond to of 23153

PTEN...UTI...whats the diff? siliconinvestor.com I was very happy to see that quick decline in UTI. I had sold 20 Apr 30's for $4 months ago and then sold the stock out from under the calls at $34 in January. I thought I would cover the calls cheaper and I did this AM at 30.75 but I was getting a little anxious as it broke $40 and expiration date closes in. That was an amazingly quick $10 drop but to be expected in this sector. I am going to try to restrain myself from doing that again.<g> John

To: kodiak_bull who wrote (1752)	3/16/2001 12:37:53 PM
From: excardog	Read Replies (1) \| Respond to of 23153

from Merrill Lynch today: Merrill Lynch Investment Highlights for 3/16/01 03/16/01 08:59 AM Source: Merrill Lynch Investment Highlights: Oils No Earnings Blow-Ups Here, As OPEC Navigates Through the Storm We are increasing our first quarter 2001 EPS estimates by an average of 9% for the major oils. Upward revisions reflect continued strong oil and natural gas prices, and refining margins, despite further slowing in the global economy. Our 1Q 2001 EPS estimates are as much as 6% above consensus. Our biggest divergence with consensus continues to be our belief that the current energy industry up-cycle will last at least through 2003. Our FY 2001 and 2002 EPS estimates are as much as 18% and 50%, respectively, above consensus (Table 3). Our top picks are Chevron (CHV; A-1-1-7; $89.53), ExxonMobil (XOM; A-1-1-7; $82.64), Amerada Hess (AHC; B-1-1-7; $75.42), and Conoco (COC'A; B-1-1-7; $28.70). Oil Services Buy Into the Pullback Oil service stocks have dropped 13% off the 3/9 highs as measured by the OIH oil service holders, which closed 3/15 at 86.16. We would buy both land and offshore drillers, including Nabors, Patterson Energy/UTI, Noble Drilling, ENSCO, Rowan and Transocean. Also, oilfield equipment and services companies Smith Intl, BJ Services, Weatherford Intl, National Oilwell and Schlumberger are strong buys. Economics

To: kodiak_bull who wrote (1752)	3/16/2001 2:36:43 PM
From: upanddown	Read Replies (1) \| Respond to of 23153

KB I'm sure you have been previously thru mergers with stocks you own but are you finding this PEX/SMOP combination a bit odd? It seems to be proceeding at a glacial pace. PEX issued its Annual 10-K today. biz.yahoo.com Very solid results but no mention of the merger even though it was initiated before year-end. 8-K's from both companies were issued in the first week in January and 2 1/2 months later, nothing further. I think it will still happen and really not worried if it doesn't since other bidders would almost certainly emerge, but it sure is a slow process. I'd been sitting on limit sells in the 4.50-4.60 range for so long, they expired after 60 days. PEX is just barely a public company. Hasn't traded since Wed, less than 10,000 shares in 12 trading days in March. Yahoo says 75% controlled by insiders and institutions own 40% or 204% of the float. Huh? Not sure what that means but if anyone here takes PEX for SMOP, we may become the only little guys in the stock. I really don't want it unless we can expect a major increase in liquidity. John