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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: chowder who wrote (18823)	2/23/2003 8:11:39 PM
From: quehubo	Respond to of 206104

Dabum - I wont let your question about future valuations go unanswered. I do expect future multiples to anticipate future earnings requiring more tangible evidence of activity. You see last Spring multiples went way up just expecting that drilling would increase rapidly again. But you see OSX rising now, its not because commodity prices are booming, its because activity is finally moving and future activity can be better anticpated now that we are running out of NG. Using NBR as an example at $40, we are very similar stock price levels compared to when drilling rocketed in 2000. The valuations that the market have given PTEN & NBR for example over the last few months lead me to believe little has changed from the multiples of the last cycle.