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

To: Erwin who wrote (10305)	2/1/1998 10:21:00 AM
From: Mel Spivak	Respond to of 95453

Today's IBD New America has a nice write-up on an oil svc's/telecomm co: IWL Comm IWLC. They provide wireless data comm to the offshore rigs; remote areas like Siberia and Africa. Very interesting. Mel

To: Erwin who wrote (10305)	2/1/1998 4:41:00 PM
From: Tulvio Durand	Read Replies (2) \| Respond to of 95453

The propsed quadrupling of Iraq's oil-for-food probably will not increase the world oil supply by much as Iraq is already selling, covertly through Iran as the broker, all the oil that it is able to produce. Sales to Iran are at below market price because of the restricted marketability. Iraq is also selling oil overtly to Jordan at substantially below market price. Allowing Iraq a larger oil sales quota will enable Iraq to obtain higher prices for its oil in the open market, meaning higher spot oil prices. You may be right that the Street's reaction to this proposed increase in Iraq's oil-for-food may be a short term negative for oil price, but in the longer term it will likely produce higher oil price. Tulvio