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

To: Crimson Ghost who wrote (33153)	12/18/1998 7:29:00 PM
From: Gary Burton	Read Replies (5) \| Respond to of 95453

Elliott Wave says that if jan crude goes lower monday and prints below 10.75 it will be the last wave down and THE final low should then be in.Best guess would be 10-10.50 as low tick, although touching 9.75 would be even better(1980's low). Technically, any tick at or below 10.75 will do. Confirmation that the final low is in would be a dip to a new print low, followed by a move up above 11.70-----if,instead, crude rallies monday am above 11.70 without first making a new low, then we shall have to wait a bit longer.----OSX needs to make another new low as well.

To: Crimson Ghost who wrote (33153)	12/19/1998 9:06:00 PM
From: Douglas V. Fant	Read Replies (1) \| Respond to of 95453

George, Sounds fair! But I do agree that the best thing to do with Iraq is to help them build a strong free market economy rather than bomb them. Give them a stake in keeping the world in one piece.... Yes oil companies are adjusting budgets to be profitable with $10 oil. Now some independents will fail ,but don't let that fool you in the sense that world oil demand does not change just because a couple of oil companies fail. Part of the drive to be profitable with cheaper oil requires better efficiencies amongst service providers. To that end drillers who perfect horizontal drilling, underbalanced drilling, and have good safety records should eventually develop an edge on drillers who cannot. Also a number of companies are "farming out" parts of their field work, such as maintaining compression, water injections, operate pipelines, etc. So service companies who can provide these services profitably will flourish too. Next 3D seismic is critical in developing prospects. I cannot see any decrease in the use of 3D seismic data as we move forward in time. Also look for service compnies who twin or partner or do large multi well deals with drilling companies in terms of supplying pipe, tubing and other services. All of the above OS activities reduce the cost of finding and producing oil or gas. Hope that those thoughts help..... Sincerely, Doug F.