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

To: Big Dog who wrote (26553)	7/26/1998 3:56:00 PM
From: J. Fred Donham	Respond to of 95453

Deep water drilling and production information....there are more than a few.... petrobras.com.br

To: Big Dog who wrote (26553)	7/26/1998 4:12:00 PM
From: Richard D	Read Replies (3) \| Respond to of 95453

Big Dog, While we all know oil prices steer the market overall, if a company loses 95% of its value (as an arbitrary extreme example) and the price of oil is still below $15, does that still mean it's a bad investment? The point is that it is possible to sell this sector beyond that which the underlying commodity pricing justifies. Oil prices are important, but they need to be counterbalanced by the valuation of the company in determining whether to buy or sell. Some companies in the sector have lost over 75% of there value. Regards, Richard