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

To: gmccon who wrote (41716)	4/7/1999 12:03:00 AM
From: JungleInvestor	Read Replies (1) \| Respond to of 95453

Looks like Venezuela will be off to a slow start on the new cuts (well guess that's to be expected since they just got around to doing the old cuts). Tuesday April 6, 3:53 pm Eastern Time FOCUS-Oil price rally back on track (updates last prices para 2, table;Venezuela comments para 8-12) LONDON, April 6 (Reuters) - Oil prices were lifted on Tuesday as confident investors put a six-week-old rally firmly back on track. Benchmark North Sea Brent blend last traded 22 cents a barrel higher at $14.94 a barrel after pre-Easter profit-taking had knocked more than 50 cents from recent gains on Thursday. The bombing by Western warplanes over the weekend of an Iraqi oil pipeline helped spur Tuesday's gains although Iraq said it had managed to minimise disruption to its exports. An Iraqi Oil Ministry official said on Tuesday that liftings from its Gulf Mina al-Bakr terminal were normal. The official said that technicians of the Iraqi Southern Oil Company were able quickly to install emergency systems to replace those destroyed at the weekend. A shipping source said Iraq remained on schedule to sell about two million bpd in April, including 1.2 million of Basrah Light through the Gulf port and 800,000 bpd of Kirkuk from its northern outlet at Ceyhan on the Turkish Mediterranean. The closure by Shell in Nigeria after a fire at pumping stations which handle 100,000 bpd of crude also helped buoy prices. It also offset renewed worries that Venezuela may lag in carrying out supply cutbacks as part of a new 2.1 million bpd producer restraint package. Vice Minister of Energy and Mines Alvaro Silva said on Tuesday that Venezuela's cuts in oil production, due to take effect on April 1, will not be made immediately. He confirmed Venezuela's commitment to comply with its agreement to slice another 125,000 bpd from its output, but said social problems in the country did not allow them to be implemented suddenly. ''The agreement started on the first of April and it is being planned, but it can't be done in an instant or in one fell swoop,'' Silva told reporters after a meeting in Congress. Venezuela has a history of failing to comply with its OPEC production quotas, though its new President Hugo Chavez has vowed to mend the country's ways. Dealers were looking ahead to Tuesday evening's release of U.S. oil inventory data from the American Petroleum Institute (API). The figures will show whether a heavy oil stock surplus that weighed down prices all last year is continuing to ebb away. Apr 6 April 1 (close) (close) IPE May Brent $14.94 $14.72 NYMEX May light crude $16.82 --

To: gmccon who wrote (41716)	4/7/1999 12:05:00 AM
From: JungleInvestor	Respond to of 95453

Tuesday April 6, 3:39 pm Eastern Time Canada rigs drilling fall 36 pct in week - CAODC WEEK OF APRIL 6 VS. MARCH 30, 1999 PCT OF RIGS PCT OF RIGS RIGS FLEET DRILLING FLEET DRILLING DOWN TOTAL DRILLING YR AGO YR AGO ALBERTA 64/ 98 392/358 456/456 14/ 21 137 31 SASK. 3/ 5 50/ 48 53/ 53 6/ 9 7 10 B.C. 4/ 9 48/ 43 52/ 52 8/ 17 15 26 N.W.T. 4/ 5 2/ 1 6/ 6 67/ 83 1 33 MAN. 0/ 0 2/ 2 2/ 2 0/ 0 0 0 TOTAL 75/117 494/452 569/569 13/ 21 160 28 FIGURES SUPPLIED BY CANADIAN ASSOCIATION OF OILWELL DRILLING CONTRACTORS.

To: gmccon who wrote (41716)	4/7/1999 12:17:00 AM
From: JungleInvestor	Respond to of 95453

Nice API report - drawdown for all categories. The trend down continues - four weeks in a row!! (4/6) ... API reported crude oil stocks down 0.08 MMB, distillates stocks down 0.96 MMB, unleaded gasoline stocks down 0.56 MMB, and refinery capacity up 0.5% at 94.8% versus last week's ...

To: gmccon who wrote (41716)	4/7/1999 12:31:00 AM
From: Jamey	Read Replies (1) \| Respond to of 95453

Thanks gmccon' You have to be one to know one(in my case) I have a lot of empathy for the guy or gal that through no fault of their own, has become addicted to a substance that will take control of there life. We can become addicted or obsessed with other women, men,food, gambling, alcohol, drugs or work. The one thing that keeps us in the gutter is denial of our problem. Overcome that, and you are on your way to being clean and sober. Regards and Peace, Santiago