Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: SliderOnTheBlack who wrote (32804)	12/14/1998 9:49:00 AM
From: Platter	Read Replies (1) \| Respond to of 95453

OSX now up fractionally! Oil set to open higher.

To: SliderOnTheBlack who wrote (32804)	12/14/1998 9:59:00 AM
From: Platter	Respond to of 95453

OIL up over the $11 figure...OSX continues to push higher up 1.04 points!

To: SliderOnTheBlack who wrote (32804)	12/14/1998 11:17:00 AM
From: Captain James T. Kirk	Respond to of 95453

Oil inches up as key producers agree to meet (Pvs Singapore, updates prices, recasts) By William Maclean LONDON, Dec 14 (Reuters) - Groggy oil prices hammered by a glut rose unsteadily on Monday after the architects of global output cuts said they would meet again to tackle oversupply. Cash-pinched petroleum powers Saudi Arabia, Venezuela and Mexico plan to meet in Madrid this week, raising prospects for another round of production restraint to sweep prices up from a 12-year floor. ''All options will be open, output cuts and extensions (of existing cuts),'' said a Gulf source familiar with Saudi thinking. The news helped raise benchmark Brent 15 cents to $9.97 a barrel at 1200 GMT, 39 cents above a low struck on Thursday but down from an early session high of $10.05. Not every market watcher was convinced Madrid would produce fresh supply cuts despite the meeting's similarity to previous gatherings of the trio this year that sealed volume sacrifices. Analysts cautioned a sharp rally remained highly unlikely in view of a stubborn overhang of stocks and simmering differences within OPEC about compliance with existing pledged cuts. ''I can't see anything having an impact on the price. Remember that we've got all-time high inventories compounded by falling demand,'' said Mark Redway of London's T. Hoare & Co. ''Even a one million barrel a day cut would take months to have an effect and we really need to see 1.5 million or maybe two million barrels (per day) of cuts to have any impact.'' The Gulf source said Saudi Arabia, the world's biggest exporter, was ready to cut its output again if prices remained at crisis levels and if other OPEC producers complied with current limits on production. But producers have found it difficult to get full compliance with reductions totalling 3.1 million barrels per day (bpd) orchestrated by the trio in talks in Riyadh in March and Amsterdam in June. The bulk of the volume cuts have come from 2.6 million bpd in reductions agreed by 10 of the 11 members of the Organisation of the Petroleum Exporting Countries. Sanctions-bound Iraq plays no part in the cuts. One of several sticking points has been Iran, which insists its 305,000 bpd of pledged cuts should be made from a baseline of 3.9 million bpd rather than the 3.6 million bpd it agreed at an OPEC meeting earlier in the year. And Venezuela in November was pumping some 305,000 bpd above its allocation, although president-elect Hugo Chavez reiterated over the weekend his government would respect its output quota. Renewed Venezuelan discipline could smooth the way towards a resolution of wider issues that eluded OPEC at a fractious Vienna meeting last month, OPEC watchers say. That gathering ended without even an agreement to extend the existing cuts by six months to the end of 1999. OPEC President Youcef Yousfi said at the weekend that OPEC members were discussing the possibility of an emergency meeting before March. ''I don't think (the Madrid talks) will be about more cutbacks, but more importantly what the (Venezuelan) President-elect said yesterday about continuing with the commitment,'' Mexican Energy Ministry spokesman Octavio Mayen said on Sunday. ''The point of the meeting is to revise oil strategy, revise the agreements made over the cutbacks, ratify respect for the cutbacks and evaluate (them),'' he said. Dec 14 Dec 11 (1245 GMT) (close) IPE January Brent $9.97 $9.82 NYMEX January light crude $10.95 $10.79 --------------------------------------------------------------------------------

To: SliderOnTheBlack who wrote (32804)	12/14/1998 11:59:00 AM
From: Bilberry	Respond to of 95453

Slider thats great potential news about the US buying for the strategic reserve. Remember that I had asked a question a couple of days ago about just that issue. Go Go Go.... --Bilberry

To: SliderOnTheBlack who wrote (32804)	12/14/1998 3:26:00 PM
From: upanddown	Read Replies (1) \| Respond to of 95453

Anyone got a clue about TCMS ? Check some of these ratios.... biz.yahoo.com Current price 3 1/4.....book Value 13.28....27% of book ! Market Cap 29M...Trailing 12 mo Sales 144M.....selling for approx 10 weeks sales! No buyer interest ? Kind of expecting some bad news on earnings but still bought a bunch at 3 1/4 this morning. John