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

To: kodiak_bull who wrote (40434)	3/19/2005 2:46:35 PM
From: chowder	Respond to of 206323

HA! We said the same thing but in a different way. How bout that! dabum

To: kodiak_bull who wrote (40434)	3/19/2005 3:01:25 PM
From: quehubo	Respond to of 206323

From a dare I say fundamental perspective, I think the market is being overly cautious with its multiple of PTEN NBR and its expectations for future earnings. What dragon is left to slay here? Who believes in FLUSH production now? In a manner that will change the market PTEN services? Who believes in the bullshit lack of prospects argument offered by many? Is it LNG still, is this the dragon that must be slayed? Hard to believe it could be. The land drilling activity has been higher than most anyone expected and the Winter as bearish as last year, yet we will withdraw from storage just as much as last year. Yes the storage draw for the season will be very similar by 4/1 but only it cost much more this year. So where is the supply and where is the demand response to high prices? It is not showing up in storage. This year I propose to replace the faulty argument about lack of prospects with the argument of where will the ng come from because of the lack of rigs. There are more E&P's loaded to the gills with cash and prospects than there are land rigs available. In fact there are essentially no land rigs available for work it seems. This will be reflected in equity prices soon. Of course I have been wrong before, so you better keep your stops.