Ultra Petroleum (UPL) Message Board

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Gold/Mining/Energy : Ultra Petroleum (UPL)

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To: ISPYOIL who wrote (4034)	4/6/1999 2:23:00 PM
From: upultra	Read Replies (2) of 4851

Your comment makes me question whether or not you understand what Ultra Petroleum is about. UP is a junior gas exploration company who controls the largest land position in one of the (if not the) natural gas pools in existence (at least North America). I don't know where you get the idea that UP is moving to Houston. UP is a Canadian company with a regional office in Denver (to be closer to the Green River I assume). Moving to Houston makes no sense. Watford was brought on to help develop the assests Ultra has. Selling part of the huge land holdings makes sense. Ultra at the current time and size has no chance of developing all of its' land (we're talking hundreds of wells). If Ultra can sell a partial interest in its' land claim, this partner? can then take on the cost of drilling some wells (which Ultra would get a portion of the revenue) AND then Ultra will have say $50 million cash -- enough for 25 to 30 wells of its own. You are right about one thing, Ultra has lots of UPside potential. I see a share price of $3 / share as soon as the land deal is complete and at least $5 / share by yearend. (especially is natural gas prices continue to be strong and even improve further. cheers, riker

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