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

To: Aggie who wrote (55538)	11/28/1999 2:42:00 PM
From: Area51	Respond to of 95453

Re EEX: I'm sure they have been hurt by the decline in natural gas prices. I just checked a price chart and was surprised myself at the severity of the decline (3.10 to 2.12 in a month, ouch!): oilworld.com I think they are going back to be primarily a NG producer with Tesoro purchase and Mundi sale (and probably not the lowest cost gas given they have the deep water GOM). In the future they may be 90% gas if I understood from one of their recent conference calls (they have a good web site with conference calls available for replay). There is also uncertainty about the next drilling results, which could be a catalyst for price movement in either direction, and tax loss selling. I like the chance to get it at 1 times next years cash flow (apparantly Hamilton does too, but CF probably has to be revised down if natural gas stays this low). Best Regards, Area51