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Microcap & Penny Stocks : NAMX -- North American Expl.-- Que Sera Sera! -- Ignore unavailable to you. Want to Upgrade?

To: Theo who wrote (2792)	2/27/1998 8:46:00 PM
From: proud dad	Read Replies (1) \| Respond to of 4736

There was also an article in WORTH magazine that mentioned the same.

To: Theo who wrote (2792)	2/27/1998 9:30:00 PM
From: M. M. Jones	Read Replies (2) \| Respond to of 4736

Dear Theo, The lead article in November 3 Business Week cover story was similar to the USA Today article, which I did not see. The BW story was "The New Economics of Oil" and the subtitle was "With technology dragging down the cost of finding and producing the precious stuff, prices won't rise -- even as demand soars." Well, demand isn't soaring currently because of the collapse of Asian markets and perhaps other reasons, and as you pointed out the recent Middle East scare did not drive up the price of oil as usually happens. The price is down. A major section of the cover story was entitled "Technology is what's driving this business." And that title was a direct quote from Jack Messman, President of UPR. He is quoted as calling it "drilling by the data bit." The article says the big oil companies (including UPR) have concluded that with the new technology their future lies in oil and gas production, rather than in refining. They are pouring billions into lucrative exploration and production projects, or they are making aquisitions and alliances that will give them access to new reserves and technologies. This is "a high-tech transformation of the industry." The winners in oil's high tech era won't be the big, vertically integrated Goliaths...rather it will be those companies best able to use new technologies to stay nimble and profitable in the face of a long-term trend of falling real prices. "And that seems to fit oil's new breed just fine." If there is an announcement of an agreement between UPR and NAMX, as continues to be promised, it will be a big plus for NAMX and will obviously mean that NAMX is strategically placed to take advantage of the "high-tech transformation of the industry." This is what I hope to see. Will we see it? Who knows. If this happens, NAMX will need extraordinarily able and nimble management to take advantage of the opportunities that will come. Old geezers like Paul Ebeling and me need to call upon younger brains and and more energetic bodies and give them the freedom and scope to make the company successful. As we all know, age is a handicap in the high-tech world. Regards, M.M.