Ultra Petroleum (UPL) Message Board

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Gold/Mining/Energy : Ultra Petroleum (UPL)

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To: driller1 who wrote (4478)	10/27/1999 12:44:00 AM
From: Gerald Atwater	Read Replies (1) of 4851

driller 1 -- Information on 7-9 wells was from the company. From the Questar audio of its July 28, l999, Conference Call, management was talking about the wells this year (l999) costing 2 to 2 1/2 million each (with hopes to decrease drilling costs to about 1.8 next year). So Ultra's "carry" for nine wells would be less than 7.5 million; any balance, I'd think, would carry over to 2000 drilling. The June deal also included cash to cover Ultra's share of the 85-square mile seismic survey. As for Stewart Point 11-34D I'd guess that should be out any day now. But that's only my guess. Hopefully, information on the other completed wells, too! Please Ultra, some news!!! Gerry Atwater

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