Michael Fitzsimmons

ConocoPhillips: Why the Sell-off?

Thanks for all the comments. As usual, I like to jump in....

User: I am not as familiar with RDS. That said, I told my son to buy some COP a few years back, and he came back and said he bought RDS instead. Not sure if that was just a son rebelling or if he was onto something there. Regardless, I will research it some.

X-term: yes, I catch and release except on certain occaisions...if I am backpacking and have run out of food...or, if my Mom makes a special request for my fried trout...which she loves. 99% of the fish I catch go back in the water...and all native trout do.

jimmy: "steep decline"?? i think you should look at their production numbers again. "steep" is not the word that comes to mind...more like stagnant, but so is XOM and so is CHV...why sell all your oil today when you can wait a year and sell it much higher? LukOil income suspect? The venture has already paid for itself. I agree that some of the dealings in Russia have been terrible (XOM and BP come to mind). That said, Mulva seems to have good relationships with foreign governments (Venezuela being the exception I suppose, but even that hasn't been settled yet). Besides, what is US big oil supposed to do? You have to play where the oil is...and it just ain't in the lower 48 anymore.

mkreisel: sure they have refining operations, and sure margins are tight there. but god man, the oil the produce is selling for $130/barrel and the nat gas over $10! wrt to me following the market more, and these companies following the S&P...perhaps you should do so. COP has waaay outperformed the S&P over the last 10 years. Over just the past 5 years, not counting dividends:
COP: $28-$83 or 190%
S&P: $1000-$1260 or 26%
perhaps it is you that needs to study the market more? the 10 year numbers are even more in my favor as the S&P was close to $1000 in 1998. S&P is dead money and will be as we watch oil head ever higher in the years to come. next time, check your figures before you cut me down, ok?

Mmarrkk: well said, and I agree. not sure where jimmy is coming from on that post.