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

To: Think4Yourself who wrote (38576)3/1/1999 11:25:00 AM
From: Wallace Rivers  Respond to of 95453
 
OT;
Owned WZR at one time, and am glad to say I traded out at a nice profit. Bought at about 11, sold 19+ (you get lucky sometimes!).
Really sad story for this company. Had a very sizable securities portfolio of high quality integrated oil names mostly (I believe XON may have been the biggest holding in the portfolio a couple of years back). Sold off most of the portfolio to get more exposure in their core business about the time oil prices started to deteriorate. Thus the core business fell apart, and the prices of the securities they sold did very well.



To: Think4Yourself who wrote (38576)3/1/1999 11:35:00 AM
From: William JH  Read Replies (1) | Respond to of 95453
 
"They probably aren't drilling because they can't pay their workers."
That was the point of my posting the info - how many other small producers are in the same boat?

As has been said here before, I wondering if OPEC will really need to cut if prices stay low much longer. I don't know of any domestic E & P companies that aren't cutting back.


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