Joe - here is a link to a good evaluation of the various E&P companies by Lehman. Also a lot of good discussion at SI's Big Dogs Boom Boom Room, an oil field trash hang out. <A HREF="http://www.oilviews.homestead.com/files/Lehman_Global_EnP_Monthly.pdf" target="_new">http://www.oilviews.homestead.com/files/Lehman_Global_EnP_Monthly.pdf</A> Cy