Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Big Dog who wrote (16905)	3/27/1998 3:37:00 PM
From: SJS	Respond to of 95453

More buyers coming into NE....bid moved up again. And look what at 32.5.....120K shares for sale. Gulp.

To: Big Dog who wrote (16905)	3/27/1998 3:38:00 PM
From: Czechsinthemail	Read Replies (2) \| Respond to of 95453

Anyone attending? This should stir some interest for next week 3/27/98 Oil Players Hope For Boost From Howard Weil Conference Next Week NEW YORK -(Dow Jones)- Hundreds of oil-industry representatives will be looking for a confidence boost as they gather Sunday at the energy sector's largest securities conference. The Howard Weil Labouisse Friedrichs Inc. annual conference in New Orleans is expected to draw its biggest crowd ever on the heels of oil prices crashing to a nine-year low, and then rebounding 25% in the past week. The energy-oriented investment bank, a unit of Legg Mason Inc. (LM), anticipates about 500 corporate and 400 investor representatives. "It's really going to be a major powwow, given what's happened over the last few days," said John Segner, manager of the Invesco Strategic Energy fund and a regular Howard Weil conference attendee. Investor sentiment, which had been eroding on the four-month, 30% slide in oil prices, received a huge shot in the arm early in the week when several major oil-producing nations agreed to curtail oil production in order to firm prices. The price quickly gained about $3.50 to around $16.50 a barrel. Howard Weil President William Walker expects the mood to be mixed at the five-day gathering, the firm's 26th conference. "There will be three types of people there: absolute bears, absolute bulls and absolutely confused," Walker said. Given the many oil and oil-services stocks that have tumbled along with oil prices, Walker said he expects the "buy side" of money managers and analysts to include more value investors this year and fewer momentum investors. "The buy side is going to be a lot more discriminating," he said. Walker said investors are looking for companies with advanced technology, exposure to deepwater exploration, and healthy balance sheets. Companies and investors alike are hoping for the kind of lift that has often accompanied the conference. In recent years, industry observers have come to call it "the Howard Weil effect," for the ability of the massive conference to move stocks. Many hope this year's conference can enable bullish investors to get together and reinforce each others' enthusiasm, building further positive momentum. "If there's some underlying interest and optimism, it (the conference) can definitely add fuel to the fire," said Allen Turner, vice president at Devon Energy Corp. (DVN), an Oklahoma City-based producer of oil and natural-gas. Turner, a frequent presenter at conferences, suspects the mood at Howard Weil may be more ebullient than many anticipate - as evidenced by the surprisingly robust attendance expected. He explained: "Wall Street seems to be saying they still like this group long-term." -By Loren Fox; 201-938-5267; loren.fox@cor.dowjones.com