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

To: Alski who wrote (30666)	10/13/1998 3:30:00 AM
From: articwarrior	Respond to of 95453

Dude Looks like that has been already figured into the price but I'd say look for a little bump. Still the dividend does buffer the effects we have been seeing. Trouble with a dividend is that earnings aren't plowed back into the company and you get a taxable event! I'm into this sector for long term growth an return. Having a dividend does not benefit me the shareholder who wants johnny to grow up and be a big company.. But to each their own.

To: Alski who wrote (30666)	10/13/1998 10:29:00 AM
From: articwarrior	Read Replies (1) \| Respond to of 95453

10/13 09:51 *API SAYS WEEKLY U.S. PETROLEUM REPORT DELAYED UNTIL WEDNESDAY Well maybe some fact to the numbers problem! Could be great short term pump coming and looking at an upward XOI right now it looks like there is not so much oil out there as one would believe! In NEW YORK story headlined "NYMEX crude called to open 5-10 cents higher" read first paragraph as "...overnight buying momentum to continue." ...instead of ..."Tuesday's late buying momentum to continue." A corrected repetition follows. NEW YORK, Oct 13 (Reuters) - November crude oil futures on the New York Mercantile Exchange (NYMEX) were called to open five to 20 cents better Tuesday as traders said they expected overnight buying momentum to continue. November heating oil was expected to open about 0.25 cent better while gasoline was seen starting unchanged. Some traders said they were encouraged by news quoting an Omani energy official as saying that some members of OPEC, including Kuwait, Qatar, Iran and Algeria, were prepared to propose an oil output cut when OPEC meets in November if world prices remained low. But others said were skeptical. "The market will surely take a wait-and-see attitude and assess the proposals when they are made, but not at this time," one NYMEX trader said. In overnight ACCESS trading, November crude gained seven cents at $14.51, trading between $14.35/14.52. November heating oil moved up, adding 0.25 cent at 39.05 cents a gallon while gasoline posted a slim loss of 0.05 cent, to close at 43.70 cents. In London, November Brent on the International Petroleum Exchange traded at $13.29 a barrel, up 14 cents, at 0928 EDT/1328 GMT, edging up after it held support at around $13.10, brokers said. Crude weakened in light trading on Monday in the open-outcry session. But it rose on technicals overnight and early morning news about the readiness of some OPEC members to propose another output cut was supportive, a NYMEX trader said. Traders said they were also awaiting release of the latest weekly inventory report from the American Petroleum Institute, which is due out late Tuesday, to give the market a short-term direction. Oman's Oil and Gas Minister, Mohammad bin Hamd bin Seif al-Ramhi told the official Kuwait News Agency: "Kuwait and the rest of (the) OPEC members will once again propose additional production cuts if prices continue to drop. However, if prices improved in the coming weeks there would be no need for a third round of cuts, he said. But "there are OPEC states which are ready for further cuts to boost the market, including Kuwait, Qatar, Iran and Algeria," he said. Oman, which is not an OPEC member, attended a meeting hosted by Kuwait last month, along with Iran Algeria and the United Arab Emirates to discuss ways to raise currently low oil world prices. Earlier this year, OPEC and non-OPEC oil producers agreed to remove 3.1 million barrels per day (bpd) from the market to boost prices, which have remained $6-$7 below their 1997 peaks.