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Gold/Mining/Energy : Strictly: Oil and Gas Exploration Companies -- Ignore unavailable to you. Want to Upgrade?

To: Robert T. Quasius who wrote (170)	4/24/1999 7:58:00 AM
From: Mark	Read Replies (2) \| Respond to of 318

Robert - Thought for the day. There seems to be a number of companies available at bargain prices at the moment. If they recover their earnings then they'll be great investments. However, one thing troubles me - are we able to spot any companies that we don't think are going to make it? The reason that I ask the question is because it's amazing how many flowers die in the spring - i.e. after apparently weathering a hard winter, you would expect things to recover once the spring sets in. However, so much resource has been consumed just to survive the winter, that there is nothing left to meet the fresh demands of spring. The ones that have the best growing seasons are the ones that have weathered the winter best. Don't get me wrong here - I don't have any opinions on MEXP, and you have impressed me as a savvy operator.......... However, we all know that the downturn which we have been through has caused substantial damage to this industry. As such, whilst there are a number of great opportunities at the moment, I'd feel a lot happier about our ability to spot the best ones if we ALSO felt confident about our abilities to spot the worst ones. At the moment it would seem that the "monkey" could make good money by picking a random selection of O&G stocks. We all have our favourites in terms of stocks in this sector which we believe will outperform, but have we ever sought to validate these expectations by also looking at the problem from the other way around ? Mark