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

To: James F. Hopkins who wrote (27363)	8/7/1998 11:18:00 PM
From: Rose	Read Replies (2) \| Respond to of 95453

A refreshing turn of events today. T'was nice to hear the pundits on CNBC in some dismay, recognizing a boost in the oil sector. My view remains that the oil sector is wonderfully under valued. The sector offers a selection of well managed companies, that carry little or no debt, operating from successful contracts with notable profits now and well into the future, --Marine Drilling one of my favorites. IMHO the Oil sector stocks are priced well under value. Notice that some of the companies are buying their own stocks back at these bargain prices. The oil sector does not exhibit the exhileration of the "financially intoxicating" internet and tech stocks, some of which took recent tumbles from their lofty heights. Let me be clear that IMHO there are good, sound tech stocks, operating with fiscal efficiency, and the owner's of those shares actually own a future. But many of these stocks are a wild ride on a roller coaster. When the roller coaster takes a dip, I want to be holding something of fiscal value in my portfolio. At this time, I remain bullish on the bearish oil sector. Thanks for enduring MHO. I appreciate all of your views. All the best to ya'all. Rose

To: James F. Hopkins who wrote (27363)	8/8/1998 4:30:00 PM
From: Paul Angell	Read Replies (3) \| Respond to of 95453

You are right about drillers not going anywhere until the oil price goes back. But considering the fact that the oil price has stayed low for a lot longer than anyone anticipated then we could be near a low and a good buying point. The recent uptick in oil could be nervousness about saddam and his stance towards the UN weapons inspectors. Drilling stock prices will rebound long before the oil price does. Here's why: The oil futures will spike back up as soon as the API crude reserve stockpile goes down. When this happens and looks sustainable then the oil companies will shelve their contingency plans to lay off rigs. Yes asia does need a recovery and an increase in oil demand but a cold winter in the US (ie. La Nina being the opposite of el Nino) could use up a lot of the supplies that is currently the problem. Predicting weather is not my game but here in Alaska we are 3deg colder than normal and had our first snow day before yesterday at 5,000ft. The weather people predicted a wet summer from el nino and they were right on target - now they are predicting a cold winter so I hope this drives up the price also.