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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: Hrothgar who wrote (46044)	6/8/1999 11:17:00 AM
From: pz	Read Replies (1) \| Respond to of 95453

Hrothgar, Really nice article on Cross Timbers in the May 31st issue of the Oil & Gas Journal. It seems as though they are shooting for 90% of their production to be gas. FWIW Paul

To: Hrothgar who wrote (46044)	6/8/1999 12:33:00 PM
From: ChanceIs	Read Replies (2) \| Respond to of 95453

Hrothgar - HGT looks interesting. I will research further. Have you looked at TRU and WTU. TRU is paying 20%-25% dividend and includes a significant Section 29 tax credit. WTU pays a smaller dividend, but includes a whopping tax credit. TRU is especially interesting as it is selling for $5.25 and its book value is $6.61. Furthermore it had to include a very large impairment at the year's end (approximately 25%) because gas prices had dropped so much. Because gas prices have now recovered, I estimate their book at roughly $8.00. The impairment cannot be reversed under accounting rules, but its effect has been nullified by the market. I look at it as an almost guaranteed 60% gain, and I have a long position. Love those high temperatures and rising gas futures.