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To: upanddown who wrote (49914)	8/26/1999 12:54:00 PM
From: hdrjr	Respond to of 95453

John, Thanks for the apparent clarification. You are probably correct about Zack's. However within the same article production of gas was up 7% without the Hugoton Royalty, oil production was also up 16%. And they are acquiring additional assests from Ocean Energy and Spring Holding. They also state that they are limiting hedges in the upcoming quarters to take advantage of suspected higher prices. Additionally, with the sale of the Hugoton Trust they have reduced the long term debt. It appears to be a winning sitution if the assests added provide more potential than the sale of the trust. As their mission statement says they purchase long lived production properties and increase the previous production rates. Maybe what they unloaded had outlived its usefulness. Since I am now long XTO I certainly like to beleive the above. (ggg) hdr