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Gold/Mining/Energy : Trico Marine Services (TMAR) -- Ignore unavailable to you. Want to Upgrade?

To: JZGalt who wrote (772)	8/26/1998 3:31:00 PM
From: DELT1970	Read Replies (1) \| Respond to of 1153

$5.00 OPTIONS AVAILABLE... Feb calls look worth the risk

To: JZGalt who wrote (772)	8/26/1998 4:32:00 PM
From: D.J.Smyth	Respond to of 1153

galt, their reasons for the upspike in prices in OCT 1998 seemed credible. i'll see if i can locate a written copy of the report and post it. hard to understand why tmar is trading at 50% below it's book, or 110% looking at it from the other direction. (institutional ownership hadn't changed much from june to july, so i wonder where "they're" finding shares to trade at this level. inst. ownership remains in the low 80%s). some traders are determining that earnings will be poor with $6K supply boats or less. 11:42 DJS Meeting Among Oil-Producing Countries' Ministers Delayed For Week 11:42 DJS Meeting Among Oil-Producing Countries' Ministers Delayed For Week CARACAS -(Dow Jones)- A meeting scheduled for Friday among oil ministers of Venezuela, Mexico, and Saudi Arabia has been postponed until next week. Venezuelan Energy and Mines Minister Erwin Arrieta said Wednesday the postponement isn't due to policy friction but to assess the effect of August oil-production cuts on prices. "Venezuela is not in disagreement with Saudi Arabia," said Arrieta. "We already have complete data for the month of July, and we are waiting for August data, so within a week we will be able to hold the meeting with a more up-to-date evaluation of conditions." Mexico, Venezuela and Saudi Arabia have been the prime movers behind the efforts by major oil producing nations to cut oil output in a bid to lift sagging crude prices. Low oil prices are triggering economic woes in nations like Venezuela and Russia, prompting concern those countries will pump more oil to get badly needed funds. Under the earlier accords, Venezuela agreed to cut its oil output by 525,000 barrels a day effective July 1. On Aug. 13, Arrieta said Venezuela had only cut 475,000 barrels a day, but that it will cut production by the remaining 50,000 barrels a day soon. However, the Venezuelan government has grown increasingly frustrated in recent weeks at the lack of a rebound in oil prices. Union leaders in Venezuela urged the government to actually boost output as Arrieta prepared for this meeting. Arrieta will still leave for Mexico Thursday for two days of meetings with government officials. Copyright (c) 1998 Dow Jones & Company, Inc. All Rights Reserved. 08/26 11:42a CDT

To: JZGalt who wrote (772)	8/26/1998 4:38:00 PM
From: Gameboy	Read Replies (2) \| Respond to of 1153

I'm not smoking any drugs and I think its quite possible. 1) the Asian Crisis (which seems to be at the heart of pessimistic forecasts) according to an August EIA brief: Prior to the Asian crisis, world oil demand had been expected to increase 1.5-2.0 million barrels per day (bbl/d) in 1998 compared to 1997. The U.S. Energy Information Administration now estimates that world oil demand growth from 1997 to 1998 will be only 1.2 million bbl/d, about 300,000 bbl/d lower than had been forecast before the Asian crisis. That's the Asian Crisis - 300,000 barrels per day. 2) OPEC made a miscalculation and increased production by around 3 million barrels per day. They obviously have the ability to choke off production - if they don't, OPEC countries could be the next Russia, or Indonesia, or Nigeria. OPEC is getting lot's of help because at the low prices they've caused the oil production infrastructure is crumbling (we're seeing rig counts down and marginal wells are being shut down). September 1, Saudi Arabia will cut production by another 18% and Kuwait may cut another 80,000 barrels/day. Also, they mentioned unannounced surprise cuts - moves like central banks to shore up currency. Don't be too surprised to see $18 oil in October. Best of luck, Steve