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


To: gregor_us who wrote (40900)3/28/2005 7:01:01 AM
From: John Carragher  Read Replies (1) | Respond to of 206321
 
ceo Raymond said he is not interested in buying at these high prices.. if they were interested in another company they would have bought before stock prices went through the roof. xom got lots of time to buy if they any interest on next down turn.

back in 80's Raymond was buying oil properties like crazy at low prices while the industry was looking at new exploration. It was cheaper to buy existing business and known reserves than invest in E & P. xom during that period built up huge reserves.