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

To: Mike from La. who wrote (33195)	12/20/1998 5:48:00 AM
From: BigBull	Read Replies (2) \| Respond to of 95453

All together now - The Shortage The Shortage The Shortage My new mantra. Key Points of the following posted link: 1. Inflation adjusted oil prices @ Great Depression levels. 2. Tax cut for consuming nations. 3. Russian oil export rev. drop made it impossible for Russia to pay her debts. 4. Norwegian oil income cut in half - no pensions for baby boomers. 5. Mexican oil export revs. down to 7.3 bill from 11.3 bill. 6. Mexican govt sharply decreasing govt. spending to avoid deficit. 7. Saudi's flew to Norway after Madrid meeting. 8. Moody-Stuart says OPEC produces oil @ $15 bbl. search.washingtonpost.com Also I read elsewhere that Russian wells are shutting down by the thousands, not only because of low oil prices, but because the Russian govt. is taxing them into oblivion. Lost the link but will try to find it and post it here soon. Can't imagine the wells are in good shape. Hell, the producers could probably make more money distilling vodka than they could pumping oil. Shortage, dead ahead.

To: Mike from La. who wrote (33195)	12/21/1998 2:25:00 AM
From: Douglas V. Fant	Read Replies (1) \| Respond to of 95453

Mike from La., Yes the Russian oil industry is in pathetic shape. Mainly it is the local, state, and federal governments arguing over who will oversee local oil development. Plus it's built into the Russian psyche to keep retrading deals even after they have been signed. Top that off with IMO the desire of the Communists not to let Mr. Yeltsin's system work... and you have a mess. The Russian oil industry runs in spite of itself- but not very well..... As to wells you do not need to shut them in if you do not service them; however all sorts of well problems will develop downhole if you do not service them on regular intervals. Thus unserviced wells can pump on for anywhere from three months to two years without any attention depending upon the type of reservoir, field, production, downhole conditions, etc. but eventually you must service them or they will fade and die. As to the rig count are there 25 fewer rigs in service or 25 fewer rigds wordlwide with current contracts? That's alittle unclear.... Sincerely, Doug F.