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

To: marc chatman who wrote (30646)	10/12/1998 4:22:00 PM
From: VLAD	Read Replies (1) \| Respond to of 95453

Some info just released regarding the Gulf coast oil/gas fields: biz.yahoo.com

To: marc chatman who wrote (30646)	10/12/1998 4:44:00 PM
From: Crimson Ghost	Read Replies (2) \| Respond to of 95453

Looks like the OSX may have made a nice double bottom. Risk/reward ratios here probably better than any other sector.

To: marc chatman who wrote (30646)	10/12/1998 6:29:00 PM
From: marc chatman	Read Replies (1) \| Respond to of 95453

Oilfield-Service Shares Rise as Investors See Value Opportunity New York, Oct. 12 (Bloomberg) -- Oilfield-service companies' shares rose for the second straight trading day as investors saw an opportunity to buy some stocks near their 52- week lows, analysts said. The Standard & Poor's index of oil service companies, including Schlumberger Ltd. and Halliburton Co., climbed 132.66, or 5.4 percent, to 2579.10. The broader Philadelphia Oil Service Sector Index, which includes 15 companies, rose 2.38, or 4.9 percent, to 51.01. The rise came after both indexes touched 52-week lows Thursday as oil prices hovered near their lowest levels in more than a decade. Crude oil prices, which fell 14 cents to $14.44 a barrel on the New York Mercantile Exchange, hit a 12-year low of $11.56 on June 15. Lower oil prices have prompted oil companies to cut their spending on searching for oil and related services. ''The oilfield companies are extremely beat up, '' said George Gaspar, an analyst at Robert W. Baird & Co. ''They're looking very attractive.'' Many oilfield service companies are trading at prices that are less than 10 times estimated per-share earnings for 1998. One year ago, they were trading at about 25 times future earnings, he said. Among the gainers were Halliburton Co., up 1 3/8 to 28 1/2; Schlumberger Ltd., up 2 3/16 to 46 3/16; Smith International Inc., up 1 13/16 to 24; Rowan Cos., up 7/16 to 10 1/16; McDermott International Inc., up 1 3/4 to 24 3/16; and Seacor Smit Inc., up 2 9/16 to 34 13/16. Halliburton and Schlumberger touched 52-week lows last week. The oilfield service companies fared better than oil stocks. The Standard & Poor's Integrated International Oil Index, which includes Exxon Corp. and Mobil Corp., rose 4.77, or about 1 percent, to 828.53. The Standard & Poor's Integrated Domestic Oil Index increased 7.43, or about 1 percent, to 784.37. Gainers included Exxon, up 1 1/16 to 71 13/16; Mobil, up 7/16 to 78 13/16; Occidental Petroleum Corp., up 7/16 to 20 7/8; and Phillips Petroleum Co., up 5/8 to 46 3/8. 17:36:28 10/12/1998