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

To: Bazmataz who wrote (21428)	5/5/1998 9:17:00 AM
From: Challo Jeregy	Read Replies (1) \| Respond to of 95453

Morning all. Had quite a scare when I scanned our late nite posts. Started to get out the maalox<g> For what it's worth. Boy, this sector can't do anything right!!! Tuesday May 5, 8:09 am Eastern Time BP falls after uninspiring Q1 results LONDON, May 5 (Reuters) - Shares in British Petroleum Co Plc (quote from Yahoo! UK & Ireland: BP.L) slipped on Tuesday, after the group produced first quarter profits which provided no positive surprises, dealers and analysts said. BP shares fell 19p to 934p by 1125 GMT in volume of around 2.4 million shares. BP's first quarter net profit came in at 582 million pounds for the quarter, a fall of 22 percent from the same period last year. The range of forecasts from analysts was between 460 and 627 million pounds, with the consensus around 546 million. ''The figures might not be disappointing but there is nothing in them to drive people wild with enthusiasm,'' said a leading oil analyst. ''I think people expect surprises from BP, they expect the results to be strong. So we are seeing an element of 'buy on rumour, sell on announcement','' the analyst added. Analysts said there was disappointment among investors that there was no mention of a merger or link-up by its chemical division with Union Carbide, which had been mooted in British newspapers. ''People had been expecting BP to do a big deal or for it to say something positive,'' said the analyst.

To: Bazmataz who wrote (21428)	5/5/1998 9:26:00 AM
From: JHR	Respond to of 95453

Bullish article on the sector. Better Investing, the monthly publication of National Assoc of Investors (pretty conservative outfit) has the Oill Services as their feature this month. The article is written by Dan Cashman of Cashman and associates. Its pretty much a rehash of what I've read here for the past 18 months. Growing worldwide demand, shrinking reserves, 3rd world countries coming on line, Russia increasing demand, sector to grow by 20 to 40% for next 5 years. He thinks we're in early part of up cycle that will last until 2010. He mentions 4 stocks(3 of which his limited partnership owns) DO,NBR,NS,FGII. He mentioned that NBR has top management and that they have taken substantially all their compensation in the form of stock. The publication also has SLB as its featured "stock to study" this month.