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

To: William Partmann who wrote (32597)	12/8/1998 10:04:00 AM
From: dj8000	Respond to of 95453

biz.yahoo.com NE initialized to strong buy. DJ

To: William Partmann who wrote (32597)	12/8/1998 10:09:00 AM
From: drsvelte	Respond to of 95453

Here's the most recent (12/7) DLJ oil services report. OILFIELD SERVICES INDUSTRY WEEKLY RUMINATIONS 12/07/98 Rating: Outperf. Change: None Confluence Of Negatives Drives Oil Prices To New Lows The confluence of almost everything that can go wrong - warm weather, OPEC inaction, cheating by Venezuela, continued weak economic activity - drove oil prices to a new low for the year and gas prices to weaken significantly. Coupled with mergers by major oil companies, this drove investor sentiment about oilfield service stocks to new depths of depression and caused the group to sink to almost its lowest level of the year. As a result of both weak commodity prices and the impact of mergers by their customers on spending in the near-term, the earnings outlook for the oilfield service industry for the first half of 1999 continues to be extremely cloudy. However, we believe that for contrarian investors there could be significant upside over the next 12 months since there are likely to be some positive catalysts for commodity prices, if not from any other source, then from a decline of supply as a result of reduced exploration activity. Consequently, we would recommend that value investors take advantage of the current overdone doom and gloom environment and overweight the group. © 1997 DLJdirect Inc. as to the format of the site layout and presentation. All Rights Reserved. Member SIPC and NASD. © 1997 Donaldson, Lufkin & Jenrette Securities Corporation as to the information and opinions expressed herein. FLC has been upgraded to a "top pick." I cannot find any new upgrades on NE. However, NBL and WFT are top picks as well.