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

To: chirodoc who wrote (30324)	10/4/1998 10:52:00 AM
From: Paul Angell	Read Replies (1) \| Respond to of 95453

Curtis, That was one hell of a good article. It warns us of being over-optimistic in the short term. I believe that it will take until January 1999 for the majors to even start thinking about reinstating their drilling budgets, if prices keep on steadily improving. If there's a war that's another story, but I would not count on one. We need a lot of consolidation in land and shallow water drilling and more consolidation in the service sector and we are setting up for some real long term health in the industry. By mid 1999 we will be wondering why the hell we did not buy more now! Paul.

To: chirodoc who wrote (30324)	10/4/1998 11:23:00 PM
From: Douglas V. Fant	Read Replies (1) \| Respond to of 95453

chirodoc, IMO the major oils are overvalued by about 10-14%- I'd wait to buy. Let margins firm in either the E&P or refining end of the business first. Another idea would be to set up a DRIP Account with any of the major oils, and then just buy a few shares every month.... I just bought a few shares of NT to set up a DRIP Account with a telcom stock Sincerely, Doug F.