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

To: J. Fred Donham who wrote (30543)	10/9/1998 4:05:00 PM
From: Chas	Respond to of 95453

A major oil company, citing a double digit drop in earnings, deflated crude pricing, and expectations for a continuance for a significant period of time has formally asked suppliers and contractors for price concessions (October 1 letter). I won't name the Co because I am a supplier. FYI There are no optimists left on this thread, so hopefully this double bottom is the real thing and will hold. Long VRC,SII,RIG,SLB,PKD, and GLBL. Really took a bath, so I can understand the pain of others. Slider, if you are still reading the thread, I want to compliment you on your recent posts. I have been trying to buy a natural gas contract for March99 to March 2000 for the past month. There is no weakness in gas prices, if anything they have been trending up. Might have to buy some options to lock in a price. I believe if we have the winter as cold as predicted, gas will really spike. Good luck, Chas

To: J. Fred Donham who wrote (30543)	10/9/1998 7:20:00 PM
From: Rob Shilling	Respond to of 95453

The IEA may not be estimating supply/demand correctly ??? Good grief, you can't trust anyone. The U.S. crude oil stocks are only 10 million barrels above last years numbers. What is keeping the price of oil low ?? What is the number for the total world stocks, or is it hard to get/estimate ??