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Strategies & Market Trends : The Thread Formerly Known as No Rest For The Wicked -- Ignore unavailable to you. Want to Upgrade?

To: EyeDrMike who wrote (2541)12/6/1998 1:37:00 PM
From: Bill on the Hill  Respond to of 90042
 
I have a small well on some farm ground that has been producing 50-100 barrels a day for fifteen years or more. In the last year the leasee has turned production back to 10 barrels a day to just barely keep the lease intact. To pick the oil up almost costs more than they sell it for on open crude market. This is not an isolated case as many wells have been plugged until the depressed sector finds a bottom. I think that playing in oil right now would only get me dirty.

Bill



To: EyeDrMike who wrote (2541)12/6/1998 2:02:00 PM
From: Ed  Respond to of 90042
 
LOOKS CHEAP: Here's a good one CHK 96&97 $15 to $30 stock in May of this yr. $6 to $8 now $1.25 they hit a good deep Gas well this week. They have 2 more working on now to hit soon. They own 98% and the stock has not moved on the fine. To much N Gas out there I guess??


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