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

To: Think4Yourself who wrote (48427)	7/23/1999 9:19:00 PM
From: Tomas	Read Replies (2) \| Respond to of 95453

Accuracy of oil inventory reports questioned cbs.marketwatch.com API & DOE Oil Inventory Statistics Under Fire biz.yahoo.com

To: Think4Yourself who wrote (48427)	7/24/1999 12:54:00 AM
From: steinman	Read Replies (1) \| Respond to of 95453

How significantly do you view the "hedge collars" restraining affect on your E and P's stock price? I know you have an interest in MEXP and they have a fairly large hedge position for next year, I think 50% at $2.62. Is this position going to seriously hurt MEXP if NG goes to 3 and stays there for a year? TIA, I value your opinion. ws

To: Think4Yourself who wrote (48427)	7/24/1999 1:11:00 AM
From: steinman	Respond to of 95453

Sorry KL, I rechecked the hedge numbers for MEXP from their drilling results PR on June 30 and couldn't get back here in time to edit. According to that release they are hedged 50% from July to October '99 at $2.31 and 33% from Nov '99 to March '00 at $2.63. Now that I've made a fool of myself, would you mind answering my question anyway? Pardon me, and thanks again. ws

To: Think4Yourself who wrote (48427)	7/25/1999 1:24:00 PM
From: Roebear	Respond to of 95453

K.Lingerfelt, Just a little weather research for a quiet SD Sunday afternoon. Looks like LaNina is not to be counted out yet, makes me wonder if the warm winter predictions a week ago were planted by oil shorts<VBG>: cpc.ncep.noaa.gov PROGNOSTIC DISCUSSION FOR LONG-LEAD OUTLOOKS CLIMATE PREDICTION CENTER NCEP NATIONAL WEATHER SERVICE WASHINGTON DC 3 PM EDT THURSDAY JULY 15 1999 PROGNOSTIC DISCUSSION OF SST FORECASTS CURRENT CONDITIONS IN THE EAST-CENTRAL EQUATORIAL PACIFIC (120-170W LONGITUDE AND 5S TO 5N - ALSO CALLED NINO 3.4) INDICATE THAT AT LEAST A MODERATELY STRONG COLD ENSO EVENT IS CONTINUING. SSTS IN THE NINO 3.4 AREA CONTINUE AT SLIGHTLY LESS THAN 2 STANDARD DEVIATIONS - 1 CELSIUS DEGREE - BELOW NORMAL. WITH THE APPROACH OF NH SUMMER THE STANDARD DEVIATION OF NINO 3.4 SST NORMALLY DECLINES TO HALF ITS WINTER VALUE. THE TRADES ARE ABOVE AVERAGE - ESPECIALLY NEAR THE DATELINE - THERE CONTINUES TO BE COLD SUB-SURFACE WATER BETWEEN 155E AND 90W AND ATMOSPHERIC CIRCULATION AND CONVECTION PATTERNS IN THE TROPICAL PACIFIC CONTINUE TO REFLECT LA NINA CONDITIONS. THE NCEP COUPLED MODEL AND THE CCA PREDICT THAT THE SST ANOMALY IN THE NINO 3.4 REGION WILL MAINTAIN OR STRENGTHEN FROM ITS CURRENT VALUE OF -1 CELSIUS DEGREES. THE CONSTRUCTED ANALOG TOOL PREDICTS EVEN STRONGER NEGATIVE SST ANOMALIES THERE. ALL TOOLS PREDICT THAT THE ANOMALY WILL REACH ITS GREATEST MAGNITUDE IN LATE FALL OR EARLY WINTER - WITH A RAPID DECREASE IN MAGNITUDE THEREAFTER AND INCREASE IN UNCERTAINTY FOLLOWING MAM SO THAT - BY LATE SPRING 2000 - THE STATE OF ENSO WILL BE QUITE UNCERTAIN. BY SUMMER 2000 THE CCA MODEL INDICATES - WITH GREAT UNCERTAINTY - THAT AN EL NINO MIGHT BEGIN. THE CONSOLI- DATED FORECAST FOLLOWS THE CONSTRUCTED ANALOGUE FOR ALL LEADS THROUGH MAM 2000 - AFTER WHICH IT TRACKS CLOSER TO CCA. THE OFFICIAL FORECAST IS FOR CONTINUED LA NINA CONDITIONS WITH NINO 3.4 SST ANOMALIES NEAR -2 CELSIUS DEGREES THROUGH JFM 2000 AFTER WHICH THERE IS A RAPID DECLINE CULMINATING IN LATE SPRING 2000. CONSEQUENTLY - AFTER MAM 2000 ONLY CCA AND OCN WERE USED AS FORECAST TOOLS. BBML, Roebear