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

To: Thean who wrote (19056)	4/14/1998 8:12:00 PM
From: Erwin	Read Replies (2) \| Respond to of 95453

Crude report from WSJ - Wed could be rocky. Erwin Crude-oil futures finished modestly lower Tuesday, as selling carried over from Monday's session on the New York Mercantile Exchange, while petroleum product futures settled mixed, with gasoline futures getting a slight boost on word of refinery outages. The market will likely suffer Wednesday following bearish inventory data released late Tuesday by the American Petroleum Institute. Gasoline was supported by catalytic cracker outages at Shell Oil Co. and Phillips 66 Co. refineries. An explosion Monday at Vitol's Come-By-Chance refinery in Newfoundland added to supportive sentiment, but the unit has been off-line since an explosion last month. Shell shut its 48,000-barrel-a-day fluid catalytic cracking unit at its Wood River, Ill., refinery for one week. Phillips 65,000-barrel-a-day catalytic cracker went down Sunday in Sweeny, Texas. The outage, which was caused by a leak, comes five days ahead of planned maintenance at the unit. The refinery outages, while supportive, weren't enough to generate supply concerns in a market awash in petroleum products, an analyst said. "Nothing has really changed. The fundamentals are still bearish; there is still a lot of gasoline, heating oil and crude oil supply in the market," said Scott Ryll, an energy analyst with GSC Energy in Atlanta. The American Petroleum Institute reported the nation's crude oil stocks jumped by a much greater-than-expected 6.496 million barrels in the week ended April 10. Gasoline stocks fell by 1.412 million barrels, and distillate stocks, which include heating oil, rose by 1.195 million barrels. Refineries operated at 96.2% capacity, up from 94.3% the previous week. (WSJ Interactive)

To: Thean who wrote (19056)	4/14/1998 8:14:00 PM
From: HH	Respond to of 95453

Thean, dont discount GLM as a stock to own. It may not be as volatile but for me that 's a plus. I like to trade it because if I am wrong on a move, I am still right because it is a company I am comfortable with owning. In other words, if the stock moves against me , I dont fret over being underwater because I feel confident that the fundamentals can pull it back up. Whenever I start buying, I try to be prepared to buy into more if it goes down. HH

To: Thean who wrote (19056)	4/15/1998 12:33:00 PM
From: waverider	Read Replies (1) \| Respond to of 95453

Friends...remember when we discussed the issue of stocks NOT going down anymore when bad news continues to come out? From Thean last night: >>Some bad news: API number out and they are no good. bloomberg.com@@SSR6bQcAIJokRh*7/energy/nrg2/topn... Top lines: Crude oil stockpile rised higher than expected. Distillates (heating oil and diesel) also rised more than expected.<< AND The price of oil is not being helpful. And this morning GLM's estimates were cut. So what happens? Not only are our stocks NOT going down anymore, but they are pulling off a good rally. PK, I will give my full agreement to your disagreement. With yesterday's close and today's activity, we should all have some pretty good smiles on our faces now. Ron, I've slipped over the edge and now I'm 140% invested. Gotta love that ESV. All I'm waiting for now is to see those internet stocks and the surrounding mania fall apart. Where do you think all that mo-mo money is going to go, eh? On another note, I contacted one of our frequent posters on the phone last night and had a wonderful conversation. Never talked to the chap before, but found our common experiences here provided an excellent base for further discussion on a lot of other issues. SOOOO...start getting ready for our rig party. As odd as it may sound, some of us might just become pretty good friends. Party on folks!