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

To: SliderOnTheBlack who wrote (40979)	3/26/1999 1:13:00 PM
From: Jacob Snyder	Respond to of 95453

RIG off the launch pad today; when the momentum guessers pile into this stock, it'll be bumping against 40, and I'll sell. My SLB will be a longer-term hold: I'll sell when oil hits 20$/B.

To: SliderOnTheBlack who wrote (40979)	3/27/1999 3:23:00 PM
From: articwarrior	Read Replies (3) \| Respond to of 95453

Slider, Your comment on Triton symbol “OIL” seemed a bit hasty. You have been so busy looking at numerous other opportunities that I believe you have overlooked a true diamond in the rough. Consider the following on OIL Excerpts from an Economist DATE 21-Mar-98 on Triton Energy “The company is actually sitting on a couple of elephantine fields. The first includes two adjacent oil fields about 160km (100 miles) northeast of Bogota; there may be a third." “The fields are the largest strike in the Western Hemisphere since Alaska's Prudhoe Bay in 1968." The company's second elephant is a group of eight natural-gas fields in the Gulf of Thailand, where Triton has sunk 14 wells, and had 14 hits. The current guess is that the fields contain proven and probable reserves of (((12.5 trillion cubic feet))) of natural gas, six times the original estimates. “In 1997, instead of pay rises or bonuses, senior managers received only two-year stock options. “ Oh yes; did they find a market for this gas? DALLAS, TEXAS -- April 22, 1998 - Triton Energy has signed a heads of agreement for the sale of natural-gas production from Block A-18 in the Malaysia-Thailand Joint Development Area (JDA) in the Gulf of Thailand. Gas deliveries under the first phase of this multiphase project are expected to generate about US$5.5 billion in sales. Triton estimates its share of these sales will average approximately 30%. OK that was then but what is to come? Delivery of a daily contract quantity of 390 million cubic feet of gas per day (expected to equal approximately 372 billion Btu per day) is scheduled to begin with first-phase development in the first half of 2001 and to continue for at least 20 years. DALLAS, TEXAS -- July 17, 1998 -- Triton Energy today announced that the Company and Atlantic Richfield Company (ARCO) have signed a definitive agreement providing financing for the development of Triton's extensive gas reserves on Block A-18 of the Malaysia-Thailand Joint Development Area. "The ARCO transaction is extremely attractive to our Company and the best proposal to emerge from our review of strategic alternatives. It helps reduce our debt and significantly improves our future cash flow outlook. It also reduces Triton's overall risk in this major project, while retaining significant upside potential, which we believe, will be realized through increased gas sales from the existing reserves and further exploration. Short on money for further acquisition…No Problem DALLAS, January 4, 1999 -- Triton Energy Limited (NYSE: OIL) and Hicks, Muse, Tate & Furst Incorporated today announced that Triton has received $222 million in gross proceeds following completion of the company is rights offering, the second phase of a $350 million equity investment in the company led by Hicks Muse. On September 30, 1998, Triton received $128 million in gross proceeds following completion of the first phase of the Hicks Muse investment. James C. Musselman, President and interim Chief Executive Officer, said: "With the Hicks Muse investment completed we have the equity capital needed to strengthen our balance sheet and position Triton as an effective participant in the industry consolidation that we see coming. At a time of near record low oil prices, companies with financial strength and liquidity will be best positioned to build shareholder value in this industry." Well Slider here sits a company who is ready for a pop and has cash in reserve (Excerpt from Rpt.) DALLAS, February 2, 1999 -- Triton Energy Limited (NYSE: OIL) today reported financial results for the full year and fourth quarter ended December 31, 1998. Excluding the effect of extraordinary and unusual items, Triton's 1998 loss would have been $33.9 million, or $0.93 per diluted share, compared with a loss of $1.0 million ($0.03 per diluted share) in 1997. The increased loss is primarily the result of substantially lower oil prices in 1998. Triton's realized oil price averaged $12.31 per barrel in 1998, a decrease of 30 percent from the prior year. Management Comment James C. Musselman, President and interim Chief Executive Officer, said: "The sharp drop in commodity prices during 1998 has severely affected the oil and gas industry. However, with a strong balance sheet, cash on hand of over $200 million and a forecasted 23 percent increase in 1999 oil production, Triton has the financial flexibility and strength needed to successfully implement its strategy." Based on the information analyzed I project an upward price for OIL in the 50 - 75 dollar range with-in 1 – 2 years with the caveat that natural gas prices will respond to increased demand with corresponding decrease in supply. Gas is the key player! Yes perhaps I have been shut in Alaska for toooo long but got to do something with the long Alaskan nights! Remember when FGI went into the 9-dollar range?