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: BigBull who wrote (45545)	5/27/1999 10:11:00 AM
From: Think4Yourself	Read Replies (2) \| Respond to of 95453

Anyone care to guess how they will announce the missing barrels never existed?? If they just come out and say it, chaos would ensue as traders freak out. I suspect they are thinking about this as well. When this occurs all oil stocks will jump but it seems to me that those pumping oil will get the biggest and quickest boost as the spike in oil prices immediately impacts their bottom line. Anyone know the average lead time from the decision a well needs to be drilled to the time it is ready to produce??

To: BigBull who wrote (45545)	5/27/1999 10:15:00 AM
From: Jon Cave	Read Replies (1) \| Respond to of 95453

With this being one of the bussiest driving weekends, won't this bold well for drawdowns in oil supply this week.

To: BigBull who wrote (45545)	5/27/1999 10:52:00 AM
From: Brad Baker	Read Replies (1) \| Respond to of 95453

Where do you find information on OECD stocks besides the U.S. API and DOE numbers? From what I understand Asian/Pacific stocks are already low due to their economic problems last year. Can this be verified? What about European stocks?

To: BigBull who wrote (45545)	5/27/1999 10:56:00 AM
From: diana g	Read Replies (1) \| Respond to of 95453

BigBull, I think you have something there about the Saudi's prediction of $18-20b in the very near future being based on their more informed understanding of the real supply situation. Seems to fit nicely. (The only thing I didn't like about the Saudi statement was that it was Not made by the Saudi Oil Minister, but by an un-named "Saudi oil official". Did this guy come out of the Oil Ministry with a bag over his head to read the statement? Was he chosen because the minister himself didn't want to damage his own credibility but wanted to prop up the price of oil --which was weak-- with this statement? ) Matt Simmons' explanation of the missing barrels seems a lot more reasonable to me than the alternatives, and I am expecting that in years to come we will look back and laugh at the 'missing barrels' episode and wonder how people could have been so gullible as to swallow such foolishness. Nevertheless, it is a beautiful day here so I'm going to take my dogs and go out into the woods to search for those missing barrels. (DD, you know.) regards, diana