disnefied_oiler, I appreciate your devotion to the cause. As usual I know that with the help of your cray computer you are very close. We can blame the refining profits for the short-fall from last quarter, but the analysts better be ware that the 4th quarter will show great improvement and will lead to the $11 year that I humbly predicted. As far as the people over at "Fool.com" are running down Russian investment, and I just wait and worry. Even if COP looses the entire Russian investment, I still know the COP represent one of the best investment in the investment world. Best regards
There use to be a saying that the OLD P suits used and that was "no pain, no gain"! For years there wasn't any pain at P. Then the TBoone and ICAN pain, after that there was more pain and gain. Then The Mulva, a lot of pain and a lot of gain. Go figure!
You are very close to my estimates. I am showing $2.55 for 3Q and $3.95 for 4Q. The 4Q estimate is based on oil averaging $53 for the remainder of the quarter, which is of course, a big if.
Wall Street is still in denial about oil company earnings, but will come around eventually. If my estimates for 2004 prove true, COP will have a trailing PE of around 7.5 based on today's closing price. That won't hold up. The stock price will have to move up.