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

To: JOHN BAIN who wrote (7569)	1/11/1998 4:20:00 PM
From: Big Dog	Read Replies (1) \| Respond to of 95453

John -- Now AND for the forseeable future. As far as I know, earnings estimates generally only extend out about 2 years, maybe three. Have you seen ONE earnings estimate that indicates or even hints at a decline in earnings for ANY offshore oil related company? (I think there was a fine tuning on TDW that knocked off a penny from one analyst.) I understand that the market looks to the future and tries to determine earnings as far out as possible. I also understand that the easy way to analyze is to link the spot price of oil to the fortunes of the sector. I just don't buy the linkage. Now just because I don't "buy" it or because it is not reflective of reality doesn't mean squat. The fact is that the guru's that be, the lay person investors and the news media DO "buy it" -- and THAT is what has driven the prices of our jewels down. It is my hope, for what its worth, that continued earnings strength will bring these stocks back up.

To: JOHN BAIN who wrote (7569)	1/11/1998 6:54:00 PM
From: Teddy	Respond to of 95453

RE: "...Analysts are looking past the 4th quarter of '97 and first quarter of this year and are concerned that future earnings will decline as oil companies slash their E&P budgets due to falling oil prices. The prospects for the oil service sector are tied to the perceived future price of oil...." Uh, do you know of any company that is slashing their E&P budget? I haven't seen one. oilonline.com oilonline.com oilonline.com (largest in the company's history?) oilonline.com oilonline.com (Guess the price of crude 10 or 20 years from now)