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

To: Big Dog who wrote (9337)	1/22/1998 9:39:00 PM
From: The Perfect Hedge	Read Replies (1) \| Respond to of 95453

Big Dog- Are you sure you're not Teddy's grandpappy? GD

To: Big Dog who wrote (9337)	1/22/1998 10:12:00 PM
From: Teddy	Read Replies (2) \| Respond to of 95453

i never complained about being "picked on," i mentioned once, at the end of one of my post at least a week ago, that i thought there had been enough jokes on the subject. No big deal. As for: "In adult land you gotta take what folks dish out or go home." i'll just mention that when all of the participents on this thread have long since died of old age, i'll still be a young man.<g> And with what i am learning here, it is very likely that i will be a very rich young man. This is from tomorrow's The Wall Street Urinal (i high light the good stuff because i am an eternal bull): Dow Jones Newswires -- January 22, 1998 Cooper Cameron Falls 10%; Analysts Cite Oil Prices By Justin A. Oppelaar NEW YORK (Dow Jones)--Cooper Cameron Corp. (RON) shares fell 10% Thursday against a backdrop of falling oil prices and a sector-wide decline that was marked by lower-than-expected earnings reports from two industry leaders, analysts said. Lohn V. Lovoi, an analyst at Morgan Stanley Dean Witter, said the significant tumble of crude oil prices was a big factor in investors' decisions to dump companies in the oil-services industry. The market "brought crude from $22 a barrel to $16" in two months, he said, "a very significant entrenchment." Lovoi also cited the release of earnings numbers by sector vanguards Schlumberger Ltd. (SLB) and Diamond Offshore Drilling Inc. (DO). "Schlumberger and Diamond posted modestly disappointing numbers," he said. "The growing demand for hydrocarbons is coming into question in the short-term." Schlumberger reported fourth-quarter earnings of 72 cents a diluted share, compared with 50 cents a diluted share a year ago and a First Call Corp. consensus estimate of 76 cents a diluted share. Diamond Offshore said it earned 55 cents a diluted share in the fourth quarter. That compares with 41 cents a diluted share a year ago and a First Call consensus estimate of 56 cents a diluted share. Schroder & Co. analyst James Stone agreed with Lovoi's opinions, but added that Schlumberger's news shouldn't necessarily be taken as a death knell for Cooper Cameron or the sector in general. Oil service concerns "have all been beaten up very severely" on Schlumberger's announcement, he said. "I believe that's an over-reaction." Still, "when you're an oil exec, looking at $16 oil is something that makes you very cautious," he said, referring to comments from Schlumberger's chairman about the potential impact of economic turmoil in Southeast Asia. Corey Kilpack, an analyst with Sanders Morris Mundy, also cautioned that new accounting standards, which require the reporting of both basic and diluted earnings figures, may have distorted the earnings pictures of Schlumberger and Diamond Offshore. Schlumberger reported earnings of 75 cents a basic share in the fourth quarter, up from 52 cents a basic share a year ago, and Diamond said it earned 57 cents a basic share, compared with a year-ago figure of 41 cents a basic share. A Cooper Cameron spokesman agreed with the analysts' assessment of the stock's decline, but added that the company as a matter of policy doesn't make specific comments regarding stock price. Cooper Cameron stock closed at 51 11/16, down 5 11/16, on composite volume of 1.6 million shares. Average volume for the company is 687,300 shares daily. -Justin A. Oppelaar; 201-938-5175