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

To: david james who wrote (6279)	12/30/1997 12:48:00 PM
From: RealMuLan	Read Replies (1) \| Respond to of 95453

FWIW, from Briefing.com: 12:13 ET Triton Energy Ltd (OIL) 29 13/16 +1 1/2 (+5.3%): Oil/gas drilling company said its plan to develop the Cakerawala field in the Gulf of Thailand was approved by the Malaysia-Thailand Joint Authority. The plan calls for the development of nearly 2 trillion cubic feet of natural gas, with production to begin in the 4th qtr of 2000.

To: david james who wrote (6279)	12/30/1997 2:15:00 PM
From: Czechsinthemail	Respond to of 95453

David, Thanks for the Motley Fool post. Futures are more important than spot prices and many companies do hedge against the possibility of falling spot prices by selling forward contracts. The key issue for this industry is not really the possibility that oil prices might fall but that they might fall for a considerable length of time. Short term fluctuations will have less impact on drilling decisions than longer term patterns. Even here, the economics still favors going ahead, particularly on offshore projects that remain capacity constrained. While the short term oil price fluctuations definitely play on investor sentiment, the underlying fundamental background for drilling and oilfield stocks remains strong. Baird