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

To: Teddy who wrote (12199)	2/19/1998 8:53:00 PM
From: marc chatman	Read Replies (3) \| Respond to of 95453

For anyone who cares to answer: If OPEC is able to agree upon and enforce some reductions in production, how would that affect drillers and services? Will certain drillers and service companies experience a slowdown? If so, are there some candidates more vulnerable than others? I'd assume those on shorter contracts would be the first to take a hit.

To: Teddy who wrote (12199)	2/19/1998 8:59:00 PM
From: John Carpenter	Respond to of 95453

The integrated/international oils aren't stupid. If anyone is in a position to venture an educated guess about future reserve replacement needs it would be Big Oil. It's good to be betting with them.

To: Teddy who wrote (12199)	2/19/1998 9:04:00 PM
From: A. Fineigler	Respond to of 95453

CEO of Chevron was on NBR tonight and said current price is temporary due to the factors we all know so well, and that he expects to see crude at $18-20 per barrel by June. He also said that if Iraqi chemical/bio/nuclear production facilities are bombed crude prices will go up some - perhaps +$1.50 - but not a huge run-up like we had in the Gulf War. And, he said that Chevron is the only major that has increased US land-based production in recent years, as US production is declining year over year in aggregate. All in all he seemed very confident about Chevron's outlook near- and long-term. AF

To: Teddy who wrote (12199)	2/19/1998 10:57:00 PM
From: Flan	Read Replies (1) \| Respond to of 95453

Teddy - I agree with you - I just want to know who bought the 20 million shares of dell at 120 today. Dell which is a great company is now selling for at a 50+ p/e - Box makers have traditionally sold at a 15 p/e at the most. Why pay such a premium for a company that is rapidly becoming a commodity business. But that is what is insane about this market - people will gladly pay out of the ass for a stock that has a pretty chart and will totally avoid our cheap as dirt oil service stocks. Look at it in terms of value - even though there has been no official revision in PDS numbers lets just say all hell breaks loose and they earn 50% less in the coming year than anticipated well the stock would still be selling at only a 10 p/e and the company would still be spitting out a sizeable portion of free cash flow. When will people smell the coffee - are there no more value players left in the world.....