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

To: John S. Sturges who wrote (7442)	1/9/1998 7:09:00 PM
From: The Perfect Hedge	Read Replies (2) \| Respond to of 95453

Whose Mike Metz?GD

To: John S. Sturges who wrote (7442)	1/10/1998 9:03:00 AM
From: Thean	Read Replies (2) \| Respond to of 95453

John, welcome on this board. Having read your bio, let me ask how you feel about the current view of the fund manager community regarding the oil services stock. What puzzles me is we seem to have no value managers around to back this sector anymore, at least we don't hear from the mass media about the drillers anymore. How much worry can there be for an average crude of $15 in 1998? People are expecting some stability and possible turnaround in the Asian crisis in the second half of 1998. But about oil, with disunity among OPEC members, it seems a foregone conclusion that cutting back on production is a pipedream, especially for members such as Indonesia, Nigeria, Venezuala who really need hard $US denominated cash. Therefore, anything relating to oil is written off for 1998. How comfortable are you and your pals with this picture. For oil services stock, I think the bottom is near. But there will be no quick rebound and we are going to be trapped in a trading range for 2-3 months. There can be money make on trading basis but the bulk of the funds are not going to bite for now. What do you think?