Strictly: Drilling II Message Board

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Strategies & Market Trends : Strictly: Drilling II

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To: Frank Pembleton who wrote (16152)	7/21/2002 4:05:59 PM
From: russwinter	Read Replies (3) of 36161

<Western Copper> Ditto, and I can't even sell until August 9th so those 23 and 24 holes better come through! You might want to look over Simmons latest comments on natural gas. Some notes: Southeast demand: 19,000 MW of new gas fired generation this year. 75 new plants this year and 73 next. Unprecedented gas sucking over the next 18 months. Texas drilling permits point to big supply decline: Peaked at 4,065 in 2Q, 2001 3Q, 2001: 3560 4Q, 2002: 2814 1Q, 2002 2478 down 39% from 2Q, 2001 Simmons says: Big impact of 45% drop in gas drilling will appear in the 3 and 4th quarter of 2002. Some of this will be offset by new giant deepwater wells, but rate of drilling GGWs has also slowed He expect 10% gas supply decline OR WORSE. Ingrediants for Perfect Energy Storm II: Arrival of material supply drop. One GOM hurricane Hot muggy summer Normal winter simmonsco-intl.com

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