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

To: Think4Yourself who wrote (48615)	7/30/1999 4:56:00 AM
From: Ditchdigger	Read Replies (1) \| Respond to of 95453

Interesting comment from CHK's Q1 report.. "MANAGEMENT COMMENT Chesapeake's Chief Executive Officer, Aubrey K. McClendon, commented, "We are pleased that OPEC's recent actions have produced almost a 70% increase in oil prices in less than two months. Nevertheless, we remain much more bullish on the fundamentals for North American natural gas. With only 368 active natural gas rigs drilling today (40% below last year at this time), annual U.S. depletion rates approaching 20-25%, and significant increases in gas demand on the way from new gas-fired power plants, we believe the fundamentals for natural gas producers are especially compelling. Because of Chesapeake's 87% natural gas reserve concentration, the company's asset value, cash flow and earnings have significant leverage to improving natural gas prices. In fact, for each $0.10 increase in natural gas prices, Chesapeake's earnings and cash flow increase by approximately $0.10 per share and net asset value increases by approximately $0.50 per share.""