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Gold/Mining/Energy : GENTRY RESOURCES LTD. (GNY.B - TSE)

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To: Leigh McBain who wrote (499)	5/24/2000 3:13:00 PM
From: Len Hynes	Read Replies (1) of 601

Hi Leigh; Here is an equally good article on natural gas prices. I see that oil is having another screaming day...up $.95 cents.I expect the O & G sector to rock very soon... hydrocarbon prices seems unstopable. Canadian Spot Gas Prices Up on Plant Shutdowns CALGARY (Reuters) - Canadian spot natural gas prices climbed by as much as 15 cents a unit Wednesday in some regions on short-term supply shortages in Alberta and longer-term shortfall worries in the U.S., industry sources said. ``NYMEX is screaming to record highs because they can't get enough gas into storage for next winter and Alberta is a little short of gas at the moment because of scheduled maintenance shutdowns at several larger plants,'' said one Calgary-based trader. He said some gas from Alberta was being shipped to the western U.S. to help meet the unexpected cooling demand there from record heat, which helped tighten the Canadian market. Spot gas at the key AECO storage hub in Alberta climbed 15 Canadian cents from Tuesday to another record high of C$4.90-4.95 per gigajoule. In late NYMEX trade, the June contract was up 10.6 cents at $3.92 as traders anticipate another bullish storage injection report later this afternoon. A Reuters poll showed most industry players expect a 60-65 bcf weekly stock build when American Gas Association storage data are released later today. For the same week last year, stocks gained 73 bcf. On average over the last five years, stocks have gained 83 bcf this week. To reach the industry goal of 3.0 tcf in storage by Oct. 31, average weekly injections of 76 bcf are needed. Weather Services Corp. expects temperature highs in Calgary to range from 61 to 65 degrees F over the next five days, or about one to two degrees above normal. In export markets, gas at Sumas in the west traded unchanged from Tuesday's average at US$3.35-3.40 per million British thermal units. In the east, gas for export at Niagara in southern Ontario gained about 10 cents to US$4.05 per mmBtu. Swing gas at the New York city gate on average today was in the US$4.20 area, up five cents from Tuesday's average. Temperature highs in Toronto will range from 63 degrees F on Wednesday to 66 degrees by Saturday, which is seasonal.

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