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Strategies & Market Trends : Three Amigos Stock Thread -- Ignore unavailable to you. Want to Upgrade?

To: Ditchdigger who wrote (20082)	6/3/2000 5:50:00 PM
From: Sergio H	Read Replies (2) \| Respond to of 29382

Storm passed without incident. Thanks DD. Bear Stearns Industry report: Ellen Hannan ? Oil & Gas Exploration and Production Raising Gas Price Forecast Reflecting the continued strength in natural gas prices to date in the second quarter, along with no diminishment in favorable industry dynamics, we are raising our forecast for natural gas prices as well as our earnings and cash flow estimates. As we have been saying for several months, and most industry observers would agree, 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. 1. Storage Refills Are Lagging. 2. Summer Demand: base demand for natural gas should be higher year-over-year. 3. Declining Deliverability. The above-mentioned factors are what keep us bullish in 2000. 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.