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: William L. Oppenheim who wrote (21848)	5/11/1998 9:39:00 PM
From: P.Prazeres	Respond to of 95453

More proof that oil is headed up.. this is an excerp from the Dupont release about spinning off a piece of Conoco: <<DuPont is divesting its energy business just as oil prices are recovering from a slide in the first quarter to a nine-year low of $13 a barrel amid bulging worldwide supplies. Monday, oil was at $15.40 a barrel on the New York Mercantile Exchange. Asked about the timing of the announcement, given the relatively low current oil and natural gas prices, Dunham told told a news conference that ''the current prices are not sustainable,'' adding that it now ''is an outstanding time do this.'' The sale would allow Conoco to capitalize on investment opportunities in the energy industry. ''There are a large number of investment opportunities for energy companies today, largely due to widespread privatization and deregulation around the world,'' Dunham said. ''The IPO will provide Conoco with the means to capitalize on those opportunities,'' said Dunham, 59, who will retain his posts. >>