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

To: Crimson Ghost who wrote (47348)	7/4/1999 10:10:00 PM
From: cherrypitter	Respond to of 95453

We all have talked a lot here about the expected shortfall in NG supplies this winter.Let us not forget that NG is still quite cheap historically and that in the near term (six months)the big dollars are going to be made in the 50-80% recovery in the price of crude.The following is from the Yahoo SFY board: >>>>I talked to the CFO, last week. John Alden told me they basically get the spot price for gas. They are curently getting about $2.30. The oil AT THIS TIME is some what less than WTI. post. He felt that the 2nd quarter they would average $2.10-.15 for gas and $15.50-.75 for oil. So the question is ...what will their production be?<<< My point being that lets not forget the larger percentage eps contribution expected in the 2nd and 3rd Q. from E &P's heavy to oil producton rather than more cheaply priced gas. I have found it very difficult to extract myself from these lightly traded E & P's. Easy to get into, expensive to get out of, when you see 500 shares traded change the bid, ask and you have a large position. Then again that could be the MM's taking advantage. EPEX is one example. There are many others. Lets be careful out there! Rich