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Gold/Mining/Energy : Natural Gas Plays
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To: Broken_Clock who wrote (12)4/8/1998 11:59:00 AM
From: Ross Orr  Read Replies (1) of 33
 
Here are the highlights of the report:
Title: Significant Increase In Our Natural gas Price Forecast

-we can no longer resist what has quickly become obvious to us; we must raise our already healthy industry average gas price projection for 98 and 99 to $2.00/mcf (up $0.20) and to $2.30/mcf respectively

50/50 chance that these will be low

Alberta gas production is stuck at 12.5/bcf/d, about .3-.5bcf/d below where it should be.

Where is the gas? At this rate Alberta gas storage may not be adequately replenished by next Novemeber

yesterday spot prices closed at $2.22/mcf up almost $0.50 from one week ago.

Alberta winter prices are up to $2.63/mcf, almost $1.10 over the past winter prices

US outlook also positive, Dec98/Jan99 is now over $2.80/mcf.

We believe that significant upside offered today by the oil and gas sector comes along only once in a few years. Investors currently face the unique combination of 1) depressed oil prices of under $16 bbl, yet which will likely stabilize at about $18/bbl by second half 98,
2) extremely strong natural gas prices which are very unlikely to exhibit any serious weakness for years to come, 3) a weak Canadian dollar, 4) most important, the current share prices of our favorite companies do not reflect these considerations.

Again, have a look at Golden Trend, I am a director of the company and a frequent poster on SI. (see Rex Diamonds and Armada Gold)

Ross Orr
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