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

To: Andrew Brockway who wrote (63979)	4/6/2000 1:21:00 PM
From: Jane4IceCream	Respond to of 95453

OT..Thanks Andrew! Yes, in OEI and FLC with very good positions the past few days now as a nice hedge for my normal sectors I play in. In this market you cant be too greedy. ELON has been fascinating for me the past year or so. Started trading it from $9 and holding and trading, holding and trading. Its been one of my largest % gainers the past twelve months. Have it now from the mid 40's. Best to you....Like reading this thread and learning from some great posters. Jane:-)

To: Andrew Brockway who wrote (63979)	4/6/2000 1:22:00 PM
From: Brian	Respond to of 95453

PETD is starting to move today with first quarter drilling and production results: biz.yahoo.com Petroleum Development Announces First Quarter Drilling and Production Results; Annualized Rate Would Grow 2000 Production 54 Percent BRIDGEPORT, W.Va., April 6 /PRNewswire/ -- Petroleum Development Corporation (Nasdaq: PETD - news) today announced that it completed drilling 35 wells during the first quarter of 2000 with no dry holes. An additional 18 wells were commenced during the quarter bringing total wells started to 53. Drilling of the 18 wells in progress will be completed during the second quarter of 2000. The Company also reported that estimated first quarter production was 1,350 million cubic feet equivalent (MMcfe), up from 763 MMcfe in the first quarter of 1999, a 77 percent increase. As compared to 1999, the 1,350 MMcfe first quarter production is roughly 39 percent of 1999s full-year production. The Company currently estimates full-year 2000 production to be 50 percent greater than the previous year's record-setting rate of 3,498 MMcfe. PDC expects to continue to add to production and reserves through drilling and acquisitions as the year progresses. Natural gas production increased 68 percent from 750 million cubic feet (MMcf) in 1999 to 1,258 MMcf in the first quarter of 2000. During the same period oil production increased from 2,138 barrels to 15,282 barrels, an increase of 615 percent. The production increases resulted primarily from the Company's 1999 drilling and acquisitions and from new wells drilled and placed into production during the first quarter. Twenty of the wells drilled in the first-quarter are located in Colorado, PDC's newest area of operation. Sixteen of the Colorado wells are in Wattenberg Field, and four are in the Piceance Basin. All 16 of the Wattenberg Field wells have been successfully completed, as have two of the four Piceance Basin wells. The remaining Piceance Basin wells are scheduled for completion and initial production in the second quarter. The 18 wells in progress at the end of the first quarter included two Piceance Basin wells, 15 wells in the Michigan Antrim Shale and one Appalachian Basin well. The Company expects to complete drilling operations on all 18 wells in the second quarter. The construction of compression and water disposal facilities for the Michigan Antrim Shale wells should be completed in the third quarter, and initial production is expected toward the end of the third quarter. PDC owns approximately a 50 percent interest in the new Michigan wells. Fifteen of the wells drilled in the first quarter are located in the Appalachian Basin. Eight of those wells are already in production, and the others will be in production by the end of the second quarter. PDC's interest in the Appalachian Basin wells is approximately 20 percent. Steve Williams, President of Petroleum Development Corporation, said: ``We're very pleased with the results to date in Colorado. We are producing an average of nearly 300 thousand cubic feet equivalent (Mcfe) per day from each of our Wattenberg wells, and close to 900 Mcfe per day from each of the two completed Piceance Basin wells. Both of these numbers are in line with our expectations for the wells at this point in their production lives. These rates are two- to three-times the production rates we would expect for an equivalent Appalachian Basin investment. PDC owns a 20 percent interest in these new Colorado wells through our public partnerships, and operates the properties.' Petroleum Development Corporation is a fast-growing regional independent energy company engaged primarily in the development, production and marketing of natural gas in the Appalachian Basin, the Rocky Mountains, and Michigan.