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Non-Tech : Abraxas Petroleum (AXAS)

AXAS 0.0347

-66.0%

Jun 22 5:00 PM EST

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To: Carole who wrote (35)	5/3/1999 10:50:00 PM
From: Robert T. Quasius	of 67

Oil and Gas report, courtesy of infobeat. Things are looking better and better all the time! Crude futures rose Monday above $19 a barrel for the first time since 1997 on the New York Mercantile Exchange as traders bet world oil producers remain committed to slashing output despite sharply higher prices. Crude briefly topped $19 before investors took profits, but analysts said the gains could continue in coming days if an upcoming report from the Organization of Petroleum Exporting Countries shows its members are adhering to promised cutbacks. OPEC and other oil producers pledged to cut about 2.7 percent of daily supply from the market beginning in April in a bid to boost prices. Oil had been hovering at 12-year lows amid overproduction and weak world demand. The latest in a series of promised cutbacks has caused prices to jump more than 50 percent in a few weeks as oil producers signal they are serious by reducing exports to key countries, including the United States and Japan. Those cutbacks have been reflected in weekly inventory data. Analysts say the key to a sustain price rise, however, will be how long oil producers keep crude off the market. Previous agreements have produced few results in terms of price increases because of widespread cheating that left targets far off the mark. (AP) --------------------CRUDE OIL-LIGHT SWEET--------------------- NYM - 1,000 bbl_dollars per bbl. CONTRACT OPEN HIGH LOW SETTLE CHANGE HIGH LOW Jun 99 18.59 19.00 18.50 18.85 +.19 20.42 11.48 Jul 99 18.55 18.63 18.24 18.48 +.14 20.40 11.90 Aug 99 18.19 18.24 17.88 18.13 +.10 20.04 12.01 Sep 99 17.62 17.93 17.62 17.86 +.09 20.33 12.19 Oct 99 17.48 17.72 17.44 17.64 +.07 20.14 12.32 Nov 99 17.25 17.50 17.24 17.44 +.07 20.60 12.45 Dec 99 17.15 17.36 17.01 17.28 +.07 20.34 12.55 Jan 00 16.98 17.14 16.98 17.14 +.06 19.88 12.70 Feb 00 16.90 17.08 16.88 17.03 +.05 20.16 12.81 Mar 00 16.97 17.00 16.80 16.94 +.04 20.10 12.92 Apr 00 16.50 16.50 16.50 16.86 +.02 17.81 13.03 Jan 01 16.60 16.65 16.60 16.65 0 17.32 14.20 Est. Sales 114911 --------------------------NATURAL GAS------------------------- NYM - 10,000 mm british thermal units. CONTRACT OPEN HIGH LOW SETTLE CHANGE HIGH LOW Jun 99 2.230 2.310 2.205 2.311 +.058 2.415 1.690 Jul 99 2.255 2.330 2.230 2.320 +.051 2.435 1.730 Aug 99 2.275 2.345 2.250 2.340 +.051 2.430 1.785 Sep 99 2.285 2.355 2.260 2.348 +.048 2.435 1.825 Oct 99 2.310 2.380 2.290 2.375 +.045 2.460 1.880 Nov 99 2.435 2.500 2.430 2.500 +.040 2.570 2.080 Dec 99 2.590 2.645 2.575 2.646 +.036 2.720 2.213 Jan 00 2.640 2.700 2.625 2.695 +.035 2.770 2.310 Feb 00 2.522 2.575 2.515 2.582 +.035 2.635 2.240 Mar 00 2.400 2.450 2.400 2.455 +.035 2.510 2.150 Apr 00 2.270 2.300 2.260 2.316 +.035 2.350 2.075 May 00 2.250 2.265 2.250 2.281 +.034 2.300 2.057 Jun 00 2.248 2.270 2.245 2.287 +.034 2.315 2.065 Jul 00 2.260 2.270 2.260 2.292 +.034 2.325 2.083 Aug 00 2.255 2.300 2.255 2.307 +.037 2.330 2.090 Sep 00 2.285 2.285 2.285 2.312 +.037 2.335 2.100 Oct 00 2.315 2.338 2.315 2.338 +.037 2.360 2.100 Nov 00 2.460 2.460 2.460 2.482 +.039 2.499 2.048 Dec 00 2.580 2.629 2.580 2.629 +.041 2.635 2.380 Feb 01 2.565 2.587 2.565 2.587 +.042 2.587 2.305 Jul 01 2.325 2.357 2.325 2.357 +.042 2.365 2.095 Nov 01 2.495 2.495 2.495 2.495 +.013 2.528 2.271 Jan 02 2.660 2.670 2.660 2.701 +.042 2.695 2.450 Apr 02 2.375 2.375 2.375 2.409 +.042 2.375 2.285 May 02 2.350 2.350 2.350 2.386 +.042 2.350 2.344 Est. Sales 8150

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