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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Jurgis Bekepuris who wrote (31225)	6/19/2008 2:58:19 PM
From: Paul Senior	Read Replies (1) \| Respond to of 78661

Large integrated oils don't seem to have moved much given that we have seen such large increases in oil prices and so many new highs in e&p companies. Perhaps that's due to the refinery operations of these integrateds and perhaps somewhat because they may've been too slow in deploying assets into exploration. They are so big there's the argument that they cannot replenish their proved/probable reserves. (Too much nationalism/expropriation now where the big fields are and where the integrateds have historically wanted to operate) I am hoping that that is already all reflected in the stock prices, and that given current valuations compared to previous years, the stocks will eventually see a rise. OTOH, for me, this is only one subsector of the oil/gas/related area in which I hold positions and not where I am making my largest bets or most current bets.