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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: Sam Nizam who wrote (3101)	11/18/1997 5:47:00 PM
From: The Perfect Hedge	Read Replies (2) \| Respond to of 95453

Sam, From what I hear from credible sources,Iraq should have no effect on this deal and is having no effect on the stocks right now.GD

To: Sam Nizam who wrote (3101)	11/18/1997 6:02:00 PM
From: Tom L. French	Respond to of 95453

Sam, "Stupid question: If things escalate in Iraq, will it have any substantial effect on the oil services sector?" Hi Sam! I'm new posting here so I hope its ok to use your question to say I have the same question. There see to be many knowledgeable people here, so I'm curious what people think. My understanding is that (leaving the issue of hostilities aside, because that would definately be bad news all over) if Iraq starts selling enough oil (after sanctions eased/lifted or whatever) to effect the price, that would affect this sector. Briefing.com says that as long as the price of oil stays between $16 and $24bbl it's ok. I wonder what people here think is the possibility of IRAQ selling enough to impact the price, and if so, how that would affect development spending by the big Oil Co. and hence the prospects for the drillers? I look forward to anyone's thoughts on this. Regards TomLF