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

To: Czechsinthemail who wrote (18438)	4/8/1998 11:35:00 AM
From: RealMuLan	Respond to of 95453

Russian govt, oil firms plan to cut oil exports Wednesday April 8, 9:44 am Eastern Time MOSCOW, April 8 (Reuters) - The Russian government agreed with major Russian oil exporters to reduce oil exports by 61,000 barrels per day, Andrei Pershin, press secretary to acting First Deputy Prime Minister Boris Nemtsov said on Wednesday. The volume represented one percent of Russian oil production and 2.3 percent of Russian oil exports, Pershin said, and the decision was made in the light of tumbling international oil prices. ''At a meeting held by Nemtsov it was decided to support a proposal by oil companies to reduce oil exports by 2.3 percent of the overall volume of exports,'' Pershin told Reuters. He said that a commission, including representatives from the oil pipeline monopoly Transneft and oil product pipeline monopoly Transnefteprodukt, had been ordered to finalise details of how the export cuts would be distributed among oil exporters in the quarterly loading schedule. A senior government source, who did not wish to be named, said that the cuts were likely to be introduced from the start of the third quarter of 1998, because the second quarter was already underway. Russia exported 2.54 million bpd of oil to all countries in 1997 of which roughly 2.10 million bpd went to countries outside the Commonwealth of Independent States. Low oil prices are costing exporters hundreds of millions of dollars a month in hard currency losses.

To: Czechsinthemail who wrote (18438)	4/8/1998 12:32:00 PM
From: jbe	Read Replies (1) \| Respond to of 95453

Core Laboratories (CRLBF) up 7.20% today as of a few minutes ago! And I've already made $300 on paper. I have just started a "short term" portfolio, which permits me, without guilt pangs, to buy companies I don't entirely approve of, while the ones I DO approve of inexorably go down. In any event, I would still like to know WHY this company has been doing so well all through this very rocky period for the sector. Any ideas? Cf. earlier question: techstocks.com P.S. Just bought MAVK, too -- for my "long-term" portfolio! Starting to move!

To: Czechsinthemail who wrote (18438)	4/8/1998 7:04:00 PM
From: andy	Read Replies (1) \| Respond to of 95453

even the land drillers are up?PDS continues to outperform many of the offshore drillers since the selloff.Take a look at its chart which technically looks excellent.It is now 30+% off its low and has broken resistance.I purchased 6 drillers near their lows and precisions performance is only matched by mdco and much of its gain is based upon buyout speculation(bought mdco,pkd,esv,rdc,glm,nbr,) all the others returns have been paltry in comparison.It is true that the land drillers went down the most during the selloff but their comeback has been as strong or stronger in pds's case i.e. nbr and pds of the group listed above.I do not include pkd as their exposure offshore is large enough to put them in between.On a side note it is curious that esv and pkd, both of which have significant natural gas exposure, share prices have not benefited relative to other drillers in light of the breakout of gas prices.I guess I take issue with your "even the land drillers" reference but must say I greatly appreciate your inputs on this thread and agree that the deep offshore should be the safest bet long term but this is not the way it has been working out lately.My favorite is rdc however pds has outpaced it in percentage terms for quite awhile now and the market is the final judge weather we agree or not. Regards