Ultra Petroleum (UPL) Message Board

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Gold/Mining/Energy : Ultra Petroleum (UPL)

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To: Darwyn Petras who wrote (4042)	4/8/1999 12:37:00 PM
From: Gerald Atwater	Read Replies (1) of 4851

Darwyn -- Certainly agree with you when you state: <<The case for gas in the future is undeniable, but Ultra can only get it done with a significant j/v. They just do not have the ability to generate the cashflow to fund the type of drilling they will need to do to improve shareholder value.>> Michael Watford will be presenting the UP case on April 21 at a conference of 500-600 of the top analyst/institutional people in the U.S. Hopefully he will be able to get the attention of a few hundred of them. That would be the first exposure of UP to the institutional community. That exposure along with Watford's good reputation (from his tenure at Nuevo) among these people will lead to better times for UP, I hope. Mr. Watford obviously thinks it will as he has now linked his reputation to that of UP. Frankly, about the only people still owning UP stock seem to be "nuts" like me. If he can show the people with the capital, but perhaps NOT with the understanding of the wealth UP controls through its leases and its near 100% success drilling to date, that UP has a great future and a bold plan to assure it (porvided the financing is forthcoming), then we're on our way! Gerry Atwater

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