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Gold/Mining/Energy : Anyone following UTI Energy Corp.? -- Ignore unavailable to you. Want to Upgrade?

To: ENOTS who wrote (860)	7/1/1998 5:00:00 PM
From: William Nelson	Read Replies (1) \| Respond to of 1305

Looks to me like gas is providing a steady demand which should put a bottom under us. Like you say there's lots of gas in storage, and I think not so much volatility in its demand, so I don't see any big pop from gas. Gas drilling isn't going to decline either though. Apparently it's the 20% oil drilling action at the margin which drives the dayrates and so on. Hence, I guess we'll wallow until oil looks stronger. I have no doubt that oil will strengthen in a reasonable horizon, say 1-2 years...at that point I'd expect "boom" behavior again and a 3x rise or more. Basically that's why I own the stock (at 16 3/8--aargh). Patience is required. Personally, I think numbers will be good enough to keep us above 12. If not I'll be pissed but probably still holding.