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

To: Don Westermeyer who wrote (28488)	8/27/1998 5:43:00 PM
From: diana g	Respond to of 95453

Subject: NOESIS Earlybird Report Date: Thu, 27 Aug 1998 08:55:04 -0700 From: George <gclemen@calweb.com> Organization: NOESIS To: UPDATE NOESIS <update@oil-gasoline.com> Just a note -- Refineries continued to run at full tilt making lots of gasoline to supply a consuming, traveling public. They also managed to squeeze more distillate into storage! Crude oil inventories were drawn down across the board but this move should not be mistaken for increased demand. They simply brought in less -- imports of crude oil dropped by 1 million bpd. For a more detailed report, check in at the NOESIS web site on Monday. --George

To: Don Westermeyer who wrote (28488)	8/27/1998 5:44:00 PM
From: Redman	Respond to of 95453

Here's 3.6 million barrels off the market in late Sept. Every drop counts !!!!!! green Alaska oil pipeline plans 36-hour shutdown in Sept LOS ANGELES, Aug 27 (Reuters) - Alaska's oil pipeline will be shut for 36 hours in late September for valve repairs, a spokeswoman for the pipeline said on Thursday. Operators will halt the 1.2 million barrels-per-day of oil flow on the 800-mile Trans-Alaska Pipeline (TAPS) starting September 25, said Tracy Green, spokeswoman for the line's operator, Aleyeska Pipeline Service Co. The pipelines transports Alaska North Slope crude from the state's northern rim to Valdez, an ice-free port on its southern coast. The affect on oil throughput is unclear, operators and traders said. The implied 1.8 million bpd of lost throughput may be made up before or after the shutdown. Refiners in California or Asia may also buy extra ahead of time in anticipation of the shutdown, the Aliyeksa spokeswoman said. Valdez can hold up to nine million barrels of oil, but normally stores just 30 to 40 percent of that, Green said. Anchorage-based Alyeska is conducting a four-year program that will test the line's 177 valves. So far operators have tested 80 valves in the past two years, and two will be worked on during the upcoming shutdown, Green said. ''One (valve) we're replacing and the other we're repairing,'' she said. Alyeska represents a group of oil companies who own or operate the line. Companies include: BP Pipelines (Alaska) Inc. (50.01 percent), ARCO Transportation Alaska, Inc. (21.35 percent), Exxon Pipeline Corp. (20.34 percent), Mobil Alaska Pipeline Co. (4.08 percent), Amerada Hess Pipeline Corp. (1.50 percent), Phillips Alaska Pipeline Corp. (1.36 percent), and Unocal Pipeline Corp. (1.36 percent).

To: Don Westermeyer who wrote (28488)	8/27/1998 7:46:00 PM
From: Gameboy	Read Replies (2) \| Respond to of 95453

The PER of a stock is a factor of the interest rate and forward looking earnings. If the interest rate were 20%, the equivalent PER (of forward looking earnings) would be 5, because an investment in either a bond or a stock would yield the same return. If the interest rate were 10%, the equivalent PER would be 10, and so on. Today, the return on 30 year US Treasury Bonds hit 5.34%, the lowest level since the government began regular sales in 1977. This means, the equivalent PER of stocks would be 18.73 - so that both stocks and bonds would yield the same return. If you take the worst case earnings estimate of your oil service sector stock for the next 12 months and multiply it times 18.73 you would have the equivalent 'value' of your stock compared to an investment in a bond. If you get a number about 2 or 3 or 4 times greater than the current value of your stock, you've got a heck of a deal. Makes you wish you could buy every single share in the company, doesn't it? Best of luck, Steve