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

To: SliderOnTheBlack who wrote (65260)	4/25/2000 7:00:00 PM
From: Ditchdigger	Read Replies (1) \| Respond to of 95453

One brokerage house's NG opinion(PS: was snowing here yesterday,,more expected towards the end of the week) "Natural Gas Outlook The near-term outlook for the domestic natural gas business in terms of pricing seems to get better every day. We see several things on the horizon that cause us to be bullish near-term (throughout 2000) and longer-term (through late 2001), and we believe that as we move into the summer months gas prices could continue to surprise on the upside. Key points: 1) Declining Deliverability: We believe that domestic natural gas production in 1999 was likely some 3-4% below levels produced in 1998, based on our company data, the number of active rigs, the lack of capital employed and the results published by the EIA?s recent Short-Term Energy Outlook. 2) Need to Refill Storage: As we are now officially in the storage ?refill? season (April 1 - October 31), all eyes are on the weekly storage refill statistic. To date, through 4/14, storage stands at a reported 1,008 BCF, some 359 BCF below last year?s level at the same date and about even with the 5-year average for this time of the year. 3) Summer Demand: More nuclear capacity is slated for scheduled maintenance this year than last; these outages are historically filled by natural gas. In addition, there is new gas-fired generating capacity scheduled to be on-line this summer for peak shaving needs. Strong summer demand for gas could lead to lower-than-average inventory levels as we approach the next winter heating season. That, in turn, could set us up for continued strength in prices through winter 2000/01. We expect to raise our estimates across the board this week as the companies report Q1 earnings which should generally exceed expectations."