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Gold/Mining/Energy : Canadian Oil & Gas Companies

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To: AL R who wrote (5926)	1/25/1999 10:46:00 PM
From: Kerm Yerman	Read Replies (2) of 24923

Al R / Charts Those charts were great. It looks to me like we will break the support level and land in the 3500 neighborhood as you stated. That amounts to another approximate 10% drop. At today's fallen rate in the index, that won't take long at all. Weather is working against both the the price of oil and natural gas - especially natural gas. Over the near term, I don't see an increase in world demand for oil which is the dominant effect related to oil and gas producer activities and share performance. The oil picture will effect shares of gas producers and more so with current natural gas pricing and increased storage levels. Natural gas needs an extended cold winter and oil needs a further reduced world supply which means OPEC crunching of the numbers. If not, oil price recovery will be a long drawn out affair in terms of time. To conclude, the falling oil and gas producer index needs a reason to spike upward and I forsee the possibility that both the technical and fundamental reasons may be timed to the upcoming OPEC conference and positive decisions effecting world supply of oil - that means further cutbacks. Just one persons opinion. This time it was mine based upon our current situation.

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