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

To: William L. Oppenheim who wrote (18914)	4/13/1998 7:23:00 PM
From: Douglas V. Fant	Read Replies (1) \| Respond to of 95453

William and Gang, Fundamentals! Not to forget the fundamentals-as previously mentioned all of the major integrated oil companies calculate their economics on E&P projects assuming the price of oil to be at or around $15.00/bbl WTI. So long as oil prices remain in that area, then projects will move forward worldwide- and profitably.....Anything over $15.00/bbl is "frosting on the cake" so to speak....And as projects move forward, you need to drill oil wells, and support those drilling units with supplies, pipe, personnel,etc....Do not expect to see large cutbacks in oil & gas projects if the price of oil stays above $15.00/bbl WTI.... Sincerely, Doug F.