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

To: Chunsheng Zhou who wrote (8333)	1/15/1998 7:59:00 PM
From: Big Dog	Read Replies (1) \| Respond to of 95453

Read the below again, I think it may bode well for us. It is a little ole statement that may have a bigger effect. I really like the way SLB was up today. I feel SLB is our leader. SCHLUMBERGER LTD. (NYSE:SLB - news) Up 2 1/2 to 76... Dain Rauscher ties rise to rumors that OPEC will meet to reduce oil production in reaction to oil glut. Plus another share repurchase. This time by Precision Drilling: biz.yahoo.com

To: Chunsheng Zhou who wrote (8333)	1/15/1998 8:17:00 PM
From: Teddy	Read Replies (2) \| Respond to of 95453

So, as i sugested earlier, the oil price targets these countries are referring to are not the same as the spot prices referred to by drilling contractors. Message 3181000 "...I don't see now an additional fall in oil prices. I believe we are arriving at the end of this adjustment,'' Lajous told reporters, referring to the recent decline in world oil prices. Lajous said he saw no reason to further revise the government's latest estimate of average 1998 oil export revenue of $13.50 per barrel, announced as part of a revised budget for the year on Wednesday. For the first two weeks of January, Pemex estimated its average crude export price stood at $12.06 per barrel. Lajous said cuts in planned investment, triggered by lower-than-expected oil revenue this year, would not affect major projects..." I think that $12.06 "average crude export price" is the "Well head" price (Mike, can you comment?). So, it looks like Lajous is projecting that the average price for the year will be about $1.44 more than the average price for the first two weeks of January(what does that make spot crude, somewhere between $17 and $18.50?). I have no problem with that, appearantly that price "would not affect major projects."