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

To: diana g who wrote (43238)	4/26/1999 8:47:00 AM
From: BigBull	Read Replies (1) \| Respond to of 95453

Diana, thanks for those two posts. The shipping rate data makes it quite clear that not too much oil is making it's way out of the Persian gulf these days. This clearly indicates that initial OPEC compliance will be good. I suspect that the oil pit traders are well aware of this and have bid futures up to $18 accordingly. Combining this with effect of the US shut ins (quoted by some as being the equal of all Saudi production) and we should soon be seeing some pretty spectacular API numbers. Whether this has all been factored in at $18 bbl. remains to be seen. I suspect that it has not. We will know in the fullness of time. Fortunately, the time is near. WRT ME fields. Everything that I've reading in IRNA indicates to me that the Iranians are pushing really hard to open their fields to foreign investment these days. Taking a lot of bids. This will inevitably put pressure on the rest of the Gulf producers to do same. If they don't they will find themselves at a competitive disadvantage to Iran and Libya. VRC makes parts and components that make rigs more efficient. They have excellent technology and products in this regard. The ME producers could use their products to maximize the efficiency of their drilling and pumping operations. While I do not say that this is todays big story or even next months, I do believe it deserves the attention of every OS investor going forward.