Natural Resources >> Analyst Interviews >> June 16, 2003

Outlook For Oil & Gas Services Companies: Michael Urban – Deutsche Bank Securities

MICHAEL URBAN, Vice President at Deutsche Bank Securities, Inc., has had senior coverage responsibility for the oilfield services and equipment sector since September 2002. He joined Deutsche Bank in October 2000 from Donaldson, Lufkin & Jenrette where he was a member of DLJ's Institutional Investor ranked oilfield service and equipment research team. Prior to DLJ, he served as an investment banker in and was a co- founder of the Global Oil & Gas Group of Fieldstone Private Capital Group. In addition, he worked as an investment banker in the energy investment banking group of Prudential Securities. He holds a BA in Economics and Public Policy Studies from Duke University. Profile
TWST: How has the group done year to date?

Mr. Urban: The group has performed pretty well year to date. It

had been underperforming the market, stuck in a trading range

basically between 80