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Strategies & Market Trends : Strictly: Drilling II -- Ignore unavailable to you. Want to Upgrade?

To: Frank Pembleton who wrote (12495)	5/16/2002 7:01:21 PM
From: isopatch	Read Replies (1) \| Respond to of 36161

Thanks Frank. Let's see how the stock responds to that news tomorrow, and next week. It's never the news. But the response to news that determines your success. And lets remember what's happened in recent months. Pattern since the end of Feb (when you'll remember me buying energy favs hand over fist to nothing but negative comments<g>) has been for most company reports to range for less than inspiring to just plain terrible. And.... the stocks turned and rallied. stockcharts.com[w,a]dacayyay[pb50!d20,2!f][vc60][iut!Uk14!Lp20,20]&pref=G But I'm NOT the bull now that I was in Feb. Anyone who's read my posts here knows I've been looking for AND hoping for<g> a good correction. And why not? Have stated several times in posts - during the past month - that I sold my trading blocks 3-4 weeks ago and ever since (other than a ST trade here and there) been sitting with minimal core positions and a lot of cash in the energy portion of the portfolio. As you can see from the above chart, XNG (Phil NG Index) has made some nice progress to the downside dropping from 201 to 179 n cng on todays close. OSX has been more stubborn in holding up not very far from it's recovery highs. Once that one takes a big hit, I'll be satisfied that raising all that cash weeks ago was the right decision. As always.... <We will know in the fullness of time> Cheers, Isopatch

To: Frank Pembleton who wrote (12495)	5/17/2002 9:36:46 AM
From: isopatch	Read Replies (2) \| Respond to of 36161

Frank. Why post only the bearish part of the Tesco report? There are some very positive developments that you excluded from your post. From which I quote: <During the quarter, Tesco signed two contracts to deliver Casing Drilling(TM) services. A long-term contract with Conoco Inc. has Tesco constructing three purpose-built drilling rigs to service the contract, with drilling scheduled to start in September of this year. The second contract with an Algerian drilling contractor will see Tesco deploy its Casing Drilling(TM) technology to drill six water wells in Algeria. In addition, the Company continues to successfully deploy the Casing Drive System in casing running field trials. During the quarter, research and development activities focused on directional drilling with casing. The viability of using Casing Drilling(TM) on deviated and horizontal wells was confirmed through a series of trials conducted in the Tesco test well located in Calgary. The ability of Tesco's tools to directionally drill to horizontal and then be retrieved is critical to solving the high cost of unscheduled events presently occurring in the North Sea. To the best of our knowledge Tesco is the only company in the world to demonstrate the ability to casing drill directionally with a retrievable assembly. At the end of May, Tesco's tools will be combined with the downhole tools provided by other service companies in a test well located in Aberdeen, Scotland. This test is being conducted to confirm that all suppliers' tools used in this project function with Tesco's Casing Drilling(TM) process.> biz.yahoo.com. Isopatch