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Gold/Mining/Energy : KERM'S KORNER

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To: Kerm Yerman who wrote (13743)	11/24/1998 10:01:00 AM
From: Kerm Yerman	Read Replies (1) of 15196

IN THE NEWS / Natural Gas will fuel Anderson in '99 CALGARY SUN Few oilpatch officials can say they expect a better year next year and mean it. Low oil prices, now under $12 US a barrel, have battered the bottom lines of everyone in the industry. But J.C. Anderson, head man of Calgary-based Anderson Exploration, is one who looks forward to 1999. And not because he thinks oil prices are going to come back. "No, we expect no (in-crease) in oil anytime soon," said Anderson. "We've positioned ourselves to become more of a natural gas outfit and the outlook for gas is pretty good." Extra pipeline capacity transporting lower-priced natural gas to thirsty markets in Eastern Canada and the U.S. is expected to come on stream next month. That should push prices upward -- a stark contrast to oil which has plunged about 30% in just over a year. But even Anderson Exploration couldn't escape the wrath of low oil prices last quarter. In its financial results released yesterday, Anderson took a 47% hit in its profits last quarter to $10.2 million from $19.1 million in the same period last year. That has Anderson, already with 60% of its production in gas, shifting more of its resources into the more stable commodity.

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