Forum Archive Index - March 2000

["tennyson@caverock.net.nz" <tennyson@caverock.net.nz>]

>
> Thank you all, for work you have done.
> Now is time to share with you names of those companies.
> Company A  - FRO
> Company  B - NOG
> Fundamental data was borrowed from Direct Brooking - StockScape
> Service.
> 
> Once you know the names,  does it make any difference in your opinion?
> 
I think you are in the wrong game.     You don't buy oil 
exploration shares for a medium or long term investment.   These are 
really traders shares.  When the next drilling project starts buy on 
the rumour sell on the fact.

Historical asset values are not really that relevant.    If oil is 
struck in commercial quantities on the end of the drill bit they are 
only historical.    Oil is a commodity with the price set by the 
market.  With the current volatility in oil prices, historic P/E 
ratios are next to useless too.

What is important is the cost of production. and none of the figures 
in your example hinted at that.    Personally I'd 
forget the two shares that you chose and just buy BHP.    With Paul 
Anthony at the helm they seem to be back on track and Australia is 
the resource capital of the world.

All comment JMHO of course. SNOOPY


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