Ultra Petroleum (UPL) Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Ultra Petroleum (UPL)

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: dgz who wrote (4440)	10/4/1999 12:12:00 PM
From: Hickory	Read Replies (2) of 4851

I'm not sure that even the charts provide a safe guide to relating to UP. The recent run-up was apparently fueled by institution(s). Now, they are no longer buying, so with a scarcity of buyers again, the price drops. We don't know why the institution(s) decided to pick up some UP. What we do know is that 90% of mutual fund managers are such poor stockpickers that they perform poorer than the mindless SP 500 average. Institutional buyers are NOT good judges of the prospects of stocks. So, buying by institution(s) is FAR from reassuring as an indicator of the prospects of Ultra Petroleum. UP has huge acreage holdings in the Green River basin, but so far the indications are that most of those holdings are nothing more than sagebrush. Bull Draw was thought to possibly tap into the Jonah II resevoirs. A dud. Results at Lizarhead are so meager that Colt elected not to pursue that area and put its money to better use. It decided to do the same with its prospects in the northwestern part of UP's acreage. One Warbonnet hole was a dud. Apparently most of the wells drilled in the Pinedale Anticline south of the Mesa area are no great shakes. Lots of acreage doesn't necessarily mean lots of gas. With the deals struck with Questar and Anschutz it appears that, barring mismanagement, UP will be able to survive and probably even profit. But how much it will be able to profit is the BIG question. UP's future may pretty well be limited to the Pinedale area. I wonder if that is enough to warrant stock prices much above where it is now, given the number of shares and potential shares outstanding. Very few companies fail to disclose good news. I feel as others of you do, that if UP had good news (that wasn't kept private by Anschutz or Questar), we would be hearing about it. "No news" is NOT good news. To assert that a CEO is too busy to announce good news through a press release written by a staffer, is simply pure BS. I have a feeling that even under Watford there still is a great deal of uncertainty about how MUCH of a future UP has.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next