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

To: Mark who wrote (174)	4/24/1999 4:03:00 PM
From: Robert T. Quasius	Read Replies (3) \| Respond to of 318

I think most of the E&P companies have basically minimized drilling activities, not just the small or micro players suffering from the low prices. I'm not sure I know what you mean by "damaged". These companies continue to produce as usual, only now with much better cash flow and earnings. I would expect moderate levels of drilling to resume later this year, after debt restructuring is out of the way, and paid for out of cash flow from operations rather than more debt. Remember, the most heavily leveraged companies tend to offer the best payback. PETD will do well, but might be a 2-3 bagger over the next 18 months. AXAS, MEXP, and SMIN might very well be 5-6 baggers over the same time period, assuming of course they don't go under first.