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

To: Little Joe who wrote (4526)	11/30/1999 1:44:00 PM
From: Hickory	Read Replies (2) \| Respond to of 4851

"No excitement in the stock." Why would there be? This past quarter there were some very meager earnings because partners have been paying for UP's share of drilling costs. That isn't going to last much longer. When, and if, there are significant earnings, with UP paying its full share of drilling costs, I would expect there to be more interest. At the present stage of its corporate development UP is not attractive to the get-rich-quick speculators nor to bona fide investors who favor stocks where there is a reasonable certainty of steady earnings (something Ultra has not yet demonstrated). With even permitting quite some time in the future and Ultra's financial resources still rather tenuous, given the costs of completing a well, it looks like it's going to still be a long haul before investors in any numbers start looking at UP. IMHO Ultra still is a speculation for those willing to wait 4 or 5 years for any significant appreciation in the price of the stock. In the meantime, many holders are going to get tired of waiting. So I expect there to be more selling pressure than buying for a long time yet. In the meantime, it's anybody's guess as to what Hislop et al have up their sleeve with their plans to reduce the number of directors to 3 and switch UP's incorporation to the Yukon. Ultra looks to me like a stock for people with a tremendous amount of patience and strong stomachs and no need to use the money they have in Ultra for anything else. (I still have all the UP that I bought almost 2 yrs. ago. Do I fit the description above or am I crazy?) Regards, Hickory