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

To: Think4Yourself who wrote (64080)	4/7/2000 3:51:00 PM
From: Evolution	Respond to of 95453

Crude is dropping on increasing volume (looking at delayed chart)<eom>

To: Think4Yourself who wrote (64080)	4/8/2000 11:39:00 AM
From: hdrjr	Read Replies (1) \| Respond to of 95453

JQP, Have you looked at 1st quarter earning projections for XTO? I was going thru some numbers this morning and came up with a potential 16 cents(using gas alone, no oil) above the 24 cents from last quarter. Of course the last quarter 24 cents was excluding the unrealized loss of 6.7 mil in securities. Since they have covered that loss and spent the proceeds on stock buyback, I just ignored the additional 2.8 mil in profit. I came up with approximately 2.54/mcf as an average quarterly price for gas including the 20% hedge and used a 10% increase in gas production with a 10% increase in production costs. I also reduced the number of outstanding shares by 1.3 mil. The current estimates range from 18 to 32 cents with the consensus at 27 cents. Even if I missed by 50%, they still hit the high. What do you think? hdr