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Gold/Mining/Energy : ABC - Abacan Resources, Nigerian Oil $$$ -- Ignore unavailable to you. Want to Upgrade?

To: FoxyLoxy who wrote (2821)	5/19/1999 5:20:00 PM
From: Zeev Hed	Read Replies (1) \| Respond to of 3156

Foxy, I'll try for the prize, I am afraid it would not last that long, maybe to mid summer. Reasons: The OPEC countries are starved for cash and they will start and cheat. There is apparently a phantom overhead supply of crude in various storage facilities (includng moored tankers?) leaking on the market. Until end demand outside the US picks up and grow, the supply will exceed demand. All these factors, I believe will bring oil back down to the $12-$14 area (with of course the irrational pessimism to $10 to $11 in spike formation). When, probably before Sep 15. Do I get the prize? Zeev