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Gold/Mining/Energy : Panaco Corp (PANA)

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To: Ed Ajootian who wrote (112)	12/4/2000 9:26:31 PM
From: Bearcatbob	Read Replies (1) of 115

Ed, Do you have any idea what price PNO will recieve for the new hedge they announced on 11/28/00? Hedges Put In Place The Company has two hedges in place which should help to protect a portion of its projected cash flows. One is a new hedge, a forward sale, or swap, put in place on approximately 40% of PANACO's 2001 estimated natural gas production. This is in addition to the Company's existing option to put oil to a purchaser ("floor"), at $25.00 per barrel, on 1,000 barrels per day through Sept. 30, 2001. (Approximately 41% of estimated 2001 oil production.)

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