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

To: SliderOnTheBlack who wrote (33401)	12/23/1998 2:29:00 AM
From: upanddown	Respond to of 95453

Very minor changes in this weeks API report crude up slightly, most finished products down slightly, no real trend. commods.reuters.com John

To: SliderOnTheBlack who wrote (33401)	12/23/1998 2:44:00 AM
From: VLAD	Read Replies (2) \| Respond to of 95453

Slider, I myself can not believe the current price of FLC. One rig gets its contract pulled from under it and the traders pile onto shorting what IMO is probably the most profitable driller plays looking out 12 to 24 months. Let them keep selling FLC for dirt. Last time the tide turned on the short positions FLC shot up over 16 in a very short time span. If the Street indeed prices stocks looking 12 months out then IMO they missed the boat on FLC. I know once the price hits 20 all the analysts of the brokerages that were accumulating under 10 will be yelling "strong buy". At least DLJ has the balls to not be a sheep and call it like it is. Smith Barney is probably one of the largest buyers while the panic is at its highest and all the sell stops are getting knocked off. Once their boat is loaded and an announcement comes out that the rig is under a new service agreement they will change back to a buy rating and make a killing.

To: SliderOnTheBlack who wrote (33401)	12/23/1998 7:50:00 AM
From: SargeK	Read Replies (1) \| Respond to of 95453

Up, Up and Away! commods.reuters.com Asia oil demand seen up 400,000 bpd in 1999-report SINGAPORE, Dec 23 (Reuters) - Asian oil demand in 1999 is expected to rise 400,000 barrels per day (bpd) compared with 1998, the Hawaii-based East-West Centre said in a report on Wednesday. It said global oil demand was expected to grow 1.2 million bpd next year, double the 600,000 bpd growth seen in 1998. But the global growth for next year would fall short of the 1.98 million bpd growth seen in 1997, it said. Similarly, Asia's demand growth forecast for next year was below the 1997 growth of 639,000 bpd. The report said the fall in Asian demand this year, which subsequently impacted global demand, had been a bigger factor in keeping oil prices down than worries about over production by Iran and Venezuela. The report said the expected demand growth in 1999 would support West Texas Intermediate (WTI) crude futures in the $13-$15 range, it said. Front-month WTI futures were trading at 0445 GMT on Wednesday at $11.26 per barrel after hitting a fresh 12-year low earlier this week of $10.35. -- Singapore Newsroom (65) 870-3082; Fax 776-8112 -- Email: singapore.newsroom@reuters.com What comes down, May go UP UP UP Patience is a virtue. Predicting OSX up a minimum of 10% (month over month) by the end of January. My bets are down. DEAL! K

To: SliderOnTheBlack who wrote (33401)	12/23/1998 8:28:00 AM
From: marc chatman	Read Replies (2) \| Respond to of 95453

Slider, do you have a view on how the politics in Venezuela might affect FLC? If a significant amount of CDG's (now FLC's) business is in Venezuela, and PDVSA, in the Chavez regime, is possibly looking to bust some contracts, there could be some fallout. Don't we have someone from Venezuela, in the oil biz, who posts to this thread? I wish I could recall who that is. FWIW, I have opened a long position in FLC and will consider buying more.