riker,
I agree. The first share of Ultra I ever bought cost me U.S.$5.99 (I STILL feel the pain), then $3.90, then $2.70. But since then I've picked up a bunch at $.71, $.73, $.80 and so on. Yesterday I bought some for $1.43. Looked at next to today's close, $1.43 (C$2.10) looks like a loser. HOWEVER, my over-all goal has been to average down to a reasonable per share cost. So today I am into Ultra at $2.07 (C$3.07). From day one I have never doubted the future of natural gas or the value of Ultra's leases in Wyoming.
Now that Michael Watford is running the show and doing so successfully, any doubts I had about Ultra are diminishing. As for the lawsuit I can't believe Watford would have given up a splendid (but probably boring) retirement to take on the problems of Ultra, only to jeopardize the whole thing by some boneheaded, illegal play involving AOW and the Gemini area. That the court will determine, of course. MY guess is the seismic results, an approved EIS early next year, more producing wells and the continued partnerships with Anschutz and Questar will do more to HELP Ultra than any court action will do to HURT Ultra.
Bottom line: I've put my money where my mouth is and expect to be in much better financial shape in 2000 than I am now. (And I don't doubt for a second that some of you think I am Ultra's Forest Gump: "Stupid is as stupid does." We'll see!)
Gerry Atwater |
