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To: SliderOnTheBlack who wrote (65002)	4/19/2000 4:23:00 PM
From: Think4Yourself	Read Replies (1) \| Respond to of 95453

I agree 100% with you on the hedges. You MUST own companies that are selling their products unhedged, and they are hard to find. That is why I only have 4 stocks in my portfolio now. All sell the bulk of their NG unhedged except XTO, which just hedged this quarter's production at very nice prices. Most of the large cap producers hedge - poorly. BR is a classic case. They have MASSIVE NG production, but mess around with all sorts of hedges. They shaft themselves every quarter. I bet they could double their income by closing down their hedging department.