Ultra Petroleum (UPL) Message Board

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Gold/Mining/Energy : Ultra Petroleum (UPL)

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To: kfdkfd who wrote (4175)	7/15/1999 7:15:00 PM
From: Gerald Atwater	Read Replies (1) of 4851

The Stewart Point 11-34D, 2 miles north of Mesa 15-8, began drilling this past Tuesday and is down a couple of thousand feet already. There could be as many as four rigs drilling within the next month. Anschutz is finalizing a couple of well locations now. Questar and Anschutz are two companies that are well capitalized so that should greatly diminish the possibility of cash starvation, as happened in the past . . . And apparently M.Watford is creating some interest with his presentations. He has already made a difference by tightening up management and ending the cash drain. So, along with the increase in natural gas prices (which are estimated to continue increasing for the immediate future), things are looking up for a change. Any additional information or comments from anyone are welcome! Gerry Atwater

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