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

To: diana g who wrote (33472)	12/23/1998 6:48:00 PM
From: Platter	Read Replies (1) \| Respond to of 95453

Another acquistion!...SAN FRANCISCO, Dec. 23 /PRNewswire/ -- Chevron announced today it has executed a definitive merger agreement to acquire Rutherford Moran Oil Corp. [Nasdaq:RMOC - news] for approximately $91 million. Rutherford Moran owns a 46.34 percent interest in Block B8/32 in the Gulf of Thailand. ''This acquisition provides Chevron with a strategic entry into the Thailand gas market,'' said Richard Matzke, president of Chevron Overseas Petroleum Inc. and a director of Chevron Corp. ''We see long-term potential in Southeast Asia and are confident this entry will lead to additional attractive investments,'' he added. ''Chevron is extremely pleased to play a role in developing Thailand's oil and gas resources,'' said Matzke. Block B8/32, located about 125 miles offshore, has proven reserves of 153 million barrels of oil equivalent gas with upside potential. Current production is from the Tantawan field with significant development and delineation currently underway in two new fields. Block B8/32 also has additional exploration potential and is adjacent to exploration Blocks 7, 8 and 9 in which Chevron holds an interest. The agreement is subject to certain commercial conditions which must be satisfied for the transaction to be completed, and there can be no assurance these conditions will be met.

To: diana g who wrote (33472)	12/23/1998 11:32:00 PM
From: Douglas V. Fant	Read Replies (1) \| Respond to of 95453

diana g. and Big Bull, I thought that I might clarify something for you on the API Report. Basically in the refining process one barrel of crude oil will make 1.1 barrels of product. So use a 1.1 to 1 ratio when calculating products drawdowns and how much additional crude will needed to be refined in order to replenish stocks.... Also guys, most utility burners have dual oil/gas burning capabilities. They prefer to burn natural gas as it creates less potential air pollution and thus you do not need to run expensive catalytic converters, etc. But if natural gas supplies get tight expect utilities to seek permission to burn oil in its stead.... Finally guys and gals, every Christmas season I try to remember those who are not free to celebrate the holidays like us in the West. This year please remember 50 Christians who were just released from prison in the Maldives Islands. They were held without charges since June 1998 because they were suspected either of being Christians or associated with Christian organizations. The Maldives (a group of islands in the Indian Ocean SW of India) claim to be 100% Muslim, and it is against the Maldives Law to belong to any other religion than the State's designated religion. A number of the 50 Christian Maldivians were tortured in prison in an effort to get them to renounce their faith and to accept Islam. They are without scripture and unable to celebrate Christmas, as they are under constant police surveillance. Please say a simple Christmas prayer for these 50 Maldivians who suffer rejection and persecution this holiday season that God may intervene to protect these Maldivians from further harm..... Thanks guys and gals.... Sincerely, Doug F.