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Phillips Petroleum Co.

Company Profile

Phillips 66 is an oil and gas company. Millions are familiar with their gasoline and motor oil. But, did you know Phillips is also one of the nation's leading producers of plastics?

Four Parts To Phillips:

  1. largest business is locating and developing oil, natural gas and natural gas liquids.
  2. natural gas extracts
  3. service stations & 5,200 miles of pipeline
  4. chemicals and plastics

We purchased the stock at this time because oil is priced at a historic low. The increased tensions that exist around the distribution of oil and gas products (such as, Iraq, Libya, Russia, and "The War On Terrorists") also make it interesting… not to mention, the merger mania could help a company like Phillips.

Acquisition Costs

date: December 21, 1998
Buy 100 Shares @ 44 13/16 P Phillips Petroleum Co. $4,181.25
Commission $14.95
TOTAL $4,196.20

Capital Gains

April 21, 1999
SOLD 50 @ 48 1/2 (less commission)

Net proceeds from the sale. $2,410.05
Less acquisition costs = net profit before taxes (Capital Gains) $311.95

May 4, 1999
SOLD 40 @ 51 5/8 (less commission)

Net proceeds from the sale. $2,050.00
Less acquisition costs = net profit before taxes (Capital Gains) $371.52



WE STILL OWN 10 SHARES OF THIS STOCK.


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