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Gold/Mining/Energy : PIONEER NATURAL RES. (PXD) -- Ignore unavailable to you. Want to Upgrade?

To: GlobalMarine who wrote (175)	3/21/1999 9:44:00 PM
From: Noel	Read Replies (1) \| Respond to of 233

Rainwater is still licking his wounds. PXD may have rallied 50% but they are still down 80% (from the equivalent MXP price of 7 1/2 per share - equal to 45 per share at closing) when the Parker-Paisley merger was announced. With 20/20 hindsight, Rainwater took a well-performing natural gas company and merged it with an oil company just in time to see oil prices fall off a cliff. They are still not out of the woods yet. The blood is not coming out as quickly any more, but that could just be because the patient is dead... Regards, NOEL