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Gold/Mining/Energy : Ultra Petroleum (UPL) -- Ignore unavailable to you. Want to Upgrade?

To: Gerald Atwater who wrote (4475)10/26/1999 11:05:00 AM
From: Gerald Atwater  Read Replies (1) | Respond to of 4851
 
Correction:
Ultra is "carried" for drilling/completion costs on the first 7-9 wells ONLY under the June deal ($7.5 million of the $13.2 million); after that Ultra participates as a financial partner for 30% of the expenses (and revenue). From that point Ultra expects its growing cash flow and increasing line-of-credit at the bank to enable it to meet its financial commitments.

Gerry Atwater


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