Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Schlumberger - The biggest/baddest oil service company -- Ignore unavailable to you. Want to Upgrade?

To: Mark Adams who wrote (115)	2/22/1999 10:32:00 PM
From: Jim Paxton	Read Replies (1) \| Respond to of 216

No question in my mind that Schlumberger is one hell of a company and a very solid. Would be a major part of my oil investments. Also like Tidewater a lot, but then the whole industry has been so beat down, when this thing turns around, you can just about throw darts at a list of oil service companies and come up a winner. I agree with an earlier post that a turn-around in asia would be a key to get oil prices moving up. Watch the CRB index, it's has been down below 200 for the first time in over 20 years. The CRB is now just under 185. Commodity prices have fallen across the board, but oil declines have had a strong impact on the declining CRB index. Oil related news: Caracas--Feb 22--Venezuelan Energy and Mines Minister Ali Rodriguez said the country would come to full compliance on its agreement with 16 other OPEC and non-OPEC oil producing countries to cut 525,000 barrels per day in the next few days. He said oil oversupply was currently about 2.5 million barrels per day and oil prices were projected to remain low for the next 2 to 3 years. By Joshua Dylan Mellars, Bridge News, Stories .21178, .20529 Moscow--Feb 22--Russian Fuel and Energy Minister Sergei Generalov will meet with representatives of OPEC in Vienna Friday, an official with the Russian ministry said. Generalov is expected to discuss possible steps to prevent further drops in world oil prices. Bridge News, Story .21179 London--Feb 22--Total North Sea oil production is expected to average 6.81 million barrels per day in 1999, up 13% from the average 6.02 million produced in 1998, according to UK energy analyst Wood MacKenzie. The increase will be driven by the forecast increase from the UK Continental Shelf in addition to a forecast 11% rise from the Norwegian sector. By Bridge News, Story .16423

To: Mark Adams who wrote (115)	2/25/1999 12:19:00 AM
From: Gary Korn	Read Replies (2) \| Respond to of 216

I would guess that SLB will lead the move up Mark, I'm tracking Halliburton (HAL) along with SLB. From what I read this weekend (was it in Money or Barrons?) HAL may be the oil service sector leader and has a slightly better yield (1.72 vs. 1.56). Both are top-notch holdings when this area turns around. That said, I day traded SLB today and may trade it (and HAL) somewhat more frequently going forward. The downside risk appears limited. Gary Korn