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

To: Gerald Atwater who wrote (4614)	5/31/2000 10:47:00 AM
From: kfdkfd	Read Replies (1) \| Respond to of 4851

Ultra Petroleum Announces Record Cash Flow And Earnings For 1st Quarter, 2000 HOUSTON--(BUSINESS WIRE)--May 31, 2000--Ultra Petroleum (TSE:UP. - news) reported net income of $370,364 (U.S.) or $0.01 per share as compared to a net loss of $2,605,812 or $(0.05) per share for the same quarter in 1999. Ultra recorded cash flow of $900,773 (U.S.) or $0.02 per share as compared to a cash flow deficit of $60,902 or ($0.00) per share. Both earnings and cash flow are at record levels for the Company. ``The results from this quarter highlights the continuing trend of financial prudence and focus on cost control. The real payoff from these efforts will be seen later this year as new production from drilling comes on and flows through to the bottom line. In 2000, we will see Ultra's strongest financial performance ever,'' stated Michael D. Watford, Chairman, CEO and President.