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

To: Amelia Carhartt who wrote (26163)	7/22/1998 8:34:00 AM
From: sand wedge	Respond to of 95453

FWIW from the Houston Chronicle: "Exxon buys tracts off coast of Congo. Exxon said Monday it bought interests in 2 deepwater oil tracts off the Republic of the Congo coast, as it expands its oil exploration in one of the world's most sought-after areas." Well, they may not be ready to throw equipment at this thing but it proves that the majors havent stopped looking for oil and probably wont anytime soon. Look for the majors to usethis opportunity to pick up more areas for exploration at bargain prices. Once oil prices rebound, we'll see a flurry of activity to determine which of these tracts are worth further investment.