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Gold/Mining/Energy : Big Dog's Boom Boom Room

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To: Dennis Roth who wrote (112795)	10/30/2008 5:15:04 PM
From: Dennis Roth	2 Recommendations Read Replies (1) of 206135

DJ UPDATE:US GAS: Futures Slide On Economic Worries, Storage Data futuresource.quote.com Goldman Sachs JB Were lowered its summer 2009 U.S. and U.K. natural gas price forecasts to $6.00 a million British thermal units from $7.30/MMBtu, and to $9.90/MMBtu from $10.60/MMBtu, respectively, Goldman analysts wrote in a note to clients Thursday. Goldman also downgraded its 2008-09 winter Nymex natural gas forecast to $6.60/MMBtu from $7.60/MMBtu. "We expect natural gas to be oversupplied next summer despite lower expectations on production as we also anticipate the recent weaker-than-expected demand will persist in coming months," Goldman said. Bloomberg: Natural Gas Falls on Supply Gain; Canada, U.S. Output to Rise bloomberg.com Canadian and U.S. gas production will total about 70 billion cubic feet a day from now through March, about 900 million more than the same period a year earlier, Canada's National Energy Board predicted in an outlook today. ``The combination of weaker demand and higher gas availability from production and storage suggests there will be sufficient gas supplies this winter,'' the government agency said. Prices will probably trade in a range between $6 and $9 per million Btu, according to the report. ==== Reuters: N.A. Firm Physical Natural Gas Price for Next Day Delivery Mixed. intelligencepress.com ===== GULF PRODUCTION MONITOR: October 30, 2008 Gulf Production increased to 8.6 Bcf/d today and ID2 adjustment pushed production up yesterday to 8.6 Bcf/d. Lower volumes on Ind Hub were in fact a one day event as production is again over 900 MMcf/d today. Onshore Texas production remains depressed some from levels over the last few weeks as continued maintenance on Tenn and new maintenance on Transco are restricting throughput out of the area. Since 9/29 nearly 312 Bcf/d of Gulf production has been deferred but given current pipeline repair estimates gulf production should be close to 10 Bcf/d by Mid Nov. bentekenergy.com

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