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

To: Snowshoe who wrote (35787)	1/25/1999 2:19:00 PM
From: The Ox	Read Replies (2) \| Respond to of 95453

The problem is not with Iraq producing more oil. Its the greedy Saudi's and Venezuelans who won't stop dumping oil on the world's market. They know it, we know, the world knows it. Our current government will stand by and let our national oil industry get wiped out by low prices. The same way they will let our nation's defense go limp by lowering the defense budget. There was no talk about using some of the surplus on defense, none. Just keep cutting defense, cause God knows we'll never have another war again. Who needs the military anyway? We need them about as much as we need the local oil industry! Disgusted, Michael

To: Snowshoe who wrote (35787)	1/25/1999 2:27:00 PM
From: SliderOnTheBlack	Read Replies (2) \| Respond to of 95453

I bring you all the pentultimate value play in the Oilpatch/aka the pig of the patch ! FEN biz.yahoo.com folks; '' it don't get no worse than this'' ! from $35 in 1997, high $20's this past spring and now a damn ''buck & change''... This is virtually an ''option'' play at this price; and in all seriousness - it may be the best high risk vs. high reward play in the oilpatch. They have a huge Australian exploration play, excellent GOM holdings and are in Alaska's Cook inlet. Wayyyy tooooo much debt; but I don't see them not being able to spin off interest in the GOM properties, or to be able to raise some cash and tread water untill prices rebound. This even surpasses Lukoil as a ''10 -20'' bagger play.... ''10'' bagger is not impossible in 18 months. They've had their share of mis-steps raising some capital ,but - the fat lady hasn't sung yet .... verrrry interesting, NOT for the faint at heart ! less than .22 of book value & .14 of sales ! This stock is worth more than this operating in a Bankruptcy reorg ! The blow off/dumping is because Institutions are pisssssssed at managements stubborness in how they've handled this. Worth a look for the risk oriented...