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

To: David Wiggins who wrote (4609)	12/8/1997 7:56:00 AM
From: Lucretius	Respond to of 95453

Sunday December 7, 6:06 pm Eastern Time Outlook positive for some upstream oil cos-Barrons NEW YORK, Dec 7 (Reuters) - Despite subdued prospects for energy-demand growth, better days may be ahead for many of the oil and natural gas sector's exploration and production companies, Barron's reported, quoting Thomas Petrie, a principal in Petrie Parkman & Co. Most interesting to Petrie and his firm are larger-cap independents with deep-water exposure in the Gulf of Mexico, the weekly paper said in its December 8 issue. ''We are increasingly convinced that the deep-water Gulf of Mexico is the most exciting new play in the U.S. in 20 years,'' he said. ''The drilling results of the majors there, over the last several years, indicate that it's a world-class geologic province.'' Petrie indicated that companies involved in that region include Ocean Energy Inc (NYSE:OEI - news), Vastar Resources Inc (NYSE:VRI - news), Union Pacific Resources Group Inc (NYSE:UPR - news) and Oryx Energy Co (NYSE:ORX - news). Other energy companies recommended by Petrie include Basin Exploration Inc (Nasdaq:BSNX - news), Petsec Energy Ltd (PSA.AX) and Plains Resources Inc (AMEX:PLX - news), the paper said. --------------------------------------------------------------------------------