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

To: William L. Oppenheim who wrote (27258)8/6/1998 10:24:00 PM
From: VLAD  Read Replies (1) | Respond to of 95453
 
WO,

In the case of Venuzeula it is bad news for the drillers who got their contracts cancelled (anybody know exactly who?). The Persian Gulf countries is another story. They won't hurt the drillers, they will just quit pumping so much oil from their already abundant well heads.



To: William L. Oppenheim who wrote (27258)8/6/1998 11:11:00 PM
From: Bernie Diamond  Read Replies (1) | Respond to of 95453
 
Interesting that Venezuela to cut 15% oil output, is shutting down 59% (74/125 rigs) of its drilling rigs. They obviously have more than one agenda in making these cuts.

Been slowly adding to my long positions. Picked up more NE today, but my PKD didn't fill. I'm going to be around for the long (profitable) haul. Fundamentals will prevail in the end!

Many thanks to the excellent analysis by so many knowledgeable posters!

Bernie


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