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Gold/Mining/Energy : Conoco (COC) - The biggest U.S. IPO ever -- Ignore unavailable to you. Want to Upgrade?

To: Weekapaug who wrote (23)	12/25/1998 8:51:00 PM
From: Night Writer	Read Replies (1) \| Respond to of 123

One question and some information. Has a dividend been announced? I saw on the news that a great number of Mom & Pop gasoline stations will be closing next year. They can't afford to replace the old gasoline storage tanks to comply with EPA requirements. EPA gave them 10 years to replace the tanks. Replacement tanks cost about $150,000 each. Commentator mentioned that this will cause a great reduction in the number of gasoline stations. Large companies were the only ones able to comply with EPA requirements. I feel bad for the little guys on one hand. On the other hand, don't you think this should increase COC sales? NW

To: Weekapaug who wrote (23)	12/30/1998 10:54:00 PM
From: Night Writer	Respond to of 123

Conoco (COC) said it will take a charge of $50 million or 8 cents a share in the fourth quarter. The company said the charge was for anticipated costs associates with measures to improve operational efficiencies which includes cutting 975 jobs. The realignment is projected to save the company $60 million annually. "We are expediting these plans to position the company to deal with the lingering problem of low crude oil prices," said Archie W. Dunham, president of Conoco. The company will also reduce its 1999 capital budget by about $500 million, or 21 percent from 1998 levels, to $1.8 billion. Analysts currently project a profit of $1.17 a share for the quarter. Shares closed up 3/8 to 20 5/8. See related story. cbs.marketwatch.com

To: Weekapaug who wrote (23)	12/30/1998 10:58:00 PM
From: Night Writer	Respond to of 123

December 29, 1998/FOOLWIRE/ -- Oilfield services company Halliburton Co. (NYSE: HAL) slid $2 9/16 to $30 3/8 after warning that it expects to earn $0.14 to $0.16 per share after charges in the fourth quarter, far short of the First Call mean estimate of $0.36 per share. Factoring in a $24 million ($0.05 per share) after-tax charge related to the elimination of 2,750 jobs and other charges related to its September merger with Dresser Industries, the company should end up with operating earnings in the $0.30 per share neighborhood, according to analysts. The job cuts come with oil prices near a 12-year low and amid upstream budget cutbacks at various oil and gas exploration and production companies. For example, integrated oil and gas firm Conoco (NYSE: COC) joined the reduced spending crowd today and lowered its 1999 capital budget to $1.8 billion, which is 21% less than the $2.3 billion it spent this year. go2net.newsalert.com