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Gold/Mining/Energy : DRA - DRAIG ENERGY LTD
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To: David Michaud who wrote (5)5/17/2000 10:59:00 AM
From: kingfisher  Read Replies (2) of 15
 
Thanks for your response David.

Management have made a big mistake to hedge 60% of their production at such a low price.They have blown an opportunity to make some serious money in 2000.
I would not short this stock based on their rock solid gas assets but will wait till late in year to buy in.
Those hedges will really start hurting when gas hits $5.

Good Luck,
Richard
P.S GAU Gauntlet is 80% gas and have no hedges.
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