From: "Oscar Trevizo (708)840-3257" <TREVIZO@FNAL.BITNET>
Subject: TelMex, NYSE, & Pemex
Reply-To: Multiple recipients of list MEXICO-L <MEXICO-L@TECMTYVM.BITNET>
Organization: Fermilabs, Batavia, IL
Date: Wed, 9 Sep 1992 17:09:14 GMT

  365 Day         Stock     PE       Sales       Close      Change
High     Low                Ratio    (100s)                 (1 day)

44 7/8   32 7/8   AT&T      90        8054       42 1/8      - 1/4
54 7/8   42 1/2   DuPont    28        4047       48 3/4      - 3/8
106 3/8  81 5/8   IBM       ...       7622       86 1/8      + 1/8
60 1/8   36 1/4   TelMex    10        8565       44 7/8      - 7/8
------------------------------------------------------------------
This public information was taken from Chicago Tribune.
Information was posted as of Tuesday Sept. 8, 4 pm.

I have included the PE ratio.  As you can see, TelMex has a PE ration of 10.
According to some experts, a good PE ration is above 5 and below 20.  So far
so good. (sorry IBM's PE was no listed).

You can also notice that the sales volume was more even among the stocks I
listed.  TelMex has the higher sales volume.

DISCLAIMER:  I am just posting public information, just for fun.  If you want
to invest your money, you are own your own.  That's your business. OK?!

Now, as requested, more information on the Wall Street Journal's article on
PEMEX:

Dianna Solis wrote "As Mexico's Pemex Nears Privatization, Foreign Energy
Firms Gear Up to Drill," WSJ August 31, 1992.  I can not re-print the entire
article, but will gladly summarize how I understand what Solis wrote.

Solis starts by listing some examples of firms interested  in doing petroleum
business in Mexico:
 - Entrada International Inc. headed by John Blocker, believes that Pemex
   will be privatized.
 Companies "ready for modernizing Mexico" (in the context of oil) are:
 - Chevron Corp., Amoco Corp., Arco, Phillips Petroleum Co., as well as
  "natural gas distributors" Enron Corp., and Valero Energy Co.

Then Solis says that "Mexicans themselves are questioning the wisdom of
blocking foreign capital investment..."  Then she sites examples of "once
nationalistic domains as Argentina, Venezuela, and the republics of the former
Soviet Union."

Then Solis presented some numbers ( I like numbers ):

   - Pemex needs $20 billion (US dollars) "in investment through 1995
     to meet domestic demand that is increasing at 5% a year and to keep
     exports constant at about 1.3 million barrels a day."

The article continues by listing Pemex moves that "would shed its [Pemex]
monopolistic ways a bit..."

   - "Opened up four-fifths of its petrochemical industry to private
     investment,  foreign and domestic."

   - "Pemex announced it would take bids for a marketing unit...for
     commercial oils and lubricants."

   - "Pemex announced it had entered a joint venture with Shell Oil Co. to
     purchase a 50% stake in a Houston refinary, which will supply it with
     badly needed unleaded gasoline."

Solis talks about the history of oil in Mexico.  She talks about the
constitution and about 1938.  She quoted a person from Phillips Petroleum that
believes that the Mexican constitution would not have to be changed, but just
the regulations would need to be written differently.

Solis then talks about natural-gas imports and demand.  She also mentions that
there is "pressure on Mexico's border cities to clean up air pollution by
cutting the use of dirty-burning high sulfur fuel."

The above is just my interpretation of the article.  If you would like to
quote from Solis, you will need to read the article.  I hope that what I have
written will help you get an idea of what the article is about, and would make
you think about the "happenings" in Mexico.

This is quite an important issue to Mexico and the world, because Pemex is the
"world's fifth largest energy company."

Saludos,

Oscar Trevizo, trevizo@fnal.fnal.gov

Newsgroups: soc.culture.mexican