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

To: Big Dog who wrote (73340)	10/15/2006 1:08:38 PM
From: manalagi	Read Replies (1) \| Respond to of 206199

Big Dog, what did you do with your portfolio when you went on your vacation? Did you place stop sells or sold everything or ... ? TIA

To: Big Dog who wrote (73340)	10/15/2006 1:26:09 PM
From: upanddown	Read Replies (1) \| Respond to of 206199

With their billions in cash, Exxon can always buy an outfit with rig contracts if they so choose. Exxon is the direct descendent of John D's Standard Oil Company formed in 1868 and they have survived 138 years of startups, breakups and mergers to become the largest company in the world by revenue. They didn't do that by being dumb and shortsighted so if they are in no hurry to tie up rigs, it is probably because they don't see day rates going much higher and consider it more likely that rates are coming down.

To: Big Dog who wrote (73340)	10/15/2006 1:58:31 PM
From: Ed Ajootian	Read Replies (1) \| Respond to of 206199

BigDog, if oil prices are still over $50 and the offshore rig dayrates have not come down in price, somehow I don't think XOM shareholders would be too pleased if they are told by XOM in '09, "hang in there, we'll start drilling in the deepwater again in '12 or so".