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Gold/Mining/Energy : GENTRY RESOURCES LTD. (GNY.B - TSE) -- Ignore unavailable to you. Want to Upgrade?

To: DRT who wrote (523)	6/23/2000 6:30:00 AM
From: Len Hynes	Respond to of 601

Hi DRT; Here is some interesting insights into what's happening in the oil market from LeMetropoleCafe.com : The Latest Cafe oil news: Subject: Earlybird Report EIA data released yesterday shows refiners cranked up the crude stills and made more gasoline and jet fuel. In doing so, the both imported more crude oil and drew down crude oil stocks 4.6 million to 295.2 million barrels. Gasoline inventories held at the same level, indicating that the additional production was exactly the amount necessary to meet current demand at current pricing. Thus, the increased production will not cause prices to decrease. However, spot prices for imported gasoline ran a bit lower, which suggests there may be a bit of competition out there. Despite stories that the Gov sold SPR crude oil, their data shows no change in inventories. OPEC's move to increase production will probably have little effect on the market unless they simultaneously offer the crude oil at significantly lower prices and undercut the market to start a downward trend. -- Seems unlikely that they would do that. >From one of your Cafe members: For any of you who are players of Bridge you will know that the bidding tells your partner about what cards you have in your hand. The bid of 708,000 BPD from OPEC is definitely a ONE, NO TRUMP!...They have no winning suits, they have no aces...they have no more capacity. They didn't even manage to scrape together the psychologically important 750,000 BPD! The market knew the rise had to be at least 500,000 BPD because this was a done deal under the previously announced price band system, there were rumors of 1 million BPD being proposed by Saudi...if they had split the difference at exactly 750,000 BPD perhaps they could have convinced the market that they were doing the OPEC equivalent of the Federal Reserve by progressively increasing production...but no, they came with 708,000 BPD!! Yesterday OPEC got the contract with their bid of ONE, NO TRUMP and didn't have enough points in their hand to win a single trick...after the announcement oil prices went up $0.7 per barrel and prices are up again this morning. Ali Rodriguez and Rilwanu Lukman both said today that maybe output will have to be raised again later this year...that was a vain attempt to change their bid to a THREE, NO TRUMP...TOO, LATE GUYS! We now know what cards you have in your hand. This market is now a free market of supply and demand and demand is outstripping supply. There is only one way forward...expand capacity through more drilling, that will take time so oil and gas prices are going to go higher and stay high. The US government is trying to put a positive spin on the "impending crisis". Richardson said..."I am pleased with this figure and hopefully, with additional oil from non-OPEC countries that might be announced soon, that this will be good news for the American consumer," he added. "We think it's a positive step toward bringing stability to oil markets, to world economic growth," Richardson said. U.S. gasoline prices, which have roared to record levels in recent weeks, should also eventually decline on the extra oil in world markets, he said. HELLO!...doesn't Richardson have access to the internet to check on crude oil prices?...sorry, Bill, but you need to wake up and smell the coffee...this problem ain't going away that quickly! It took 14 years to get into this mess by having a holiday on cheap energy...and Murphy's Law (not Bill Murphy, another one!) dictates that the mess floats to the surface just before elections. High oil and gas prices are here to stay, as I have said before, we need to stop the dubious accounting practice of excluding "volatile food and energy prices" from the inflation watch...this is real CORE inflation...anybody know of a good hedge against inflation?..what about GOLD?? <A HREF="http://www.LeMetropoleCafe.com/entrance.cfm">Le Metropole Cafe</A> All the best, Bill Murphy Le Patron www.LeMetropoleCafe.com

To: DRT who wrote (523)	6/27/2000 9:17:00 AM
From: Len Hynes	Respond to of 601

Hi DRT; All that glitters is not gold...look at this rosy picture for the oil industry and producing companies. I have highlighted several key points: Canada's Oil Executives Have 'Rosy Glow' - Survey 08:46 EDT Tuesday, June 27, 2000 CALGARY (Reuters) - High oil and gas prices have turned senior executives of Canadian energy companies into an optimistic bunch, with most expecting prices to stay strong and investors to buy in, according to a survey released on Monday. Consulting firm Arthur Andersen, in its annual poll of Canada's oil patch, found senior executives believed oil and gas prices would be strong for at least five years and that capital would start pumping back into the industry. ``The health of the industry is obviously there. The executives have a rosy glow, I would say, in terms of the stock prices, employment prospects and expenditure plans,'' Harry English of Arthur Anderson told reporters. The optimism comes as energy firms continue to reap the benefits of benchmark oil prices above a heady C$31 a barrel and Canadian natural gas prices at C$5.39 per thousand cubic feet, up 84 percent from a year ago amid fears of tight north American supplies this coming winter. Like last year's poll, half the executives from 51 companies surveyed believed gas demand across the continent would rise 2-4 percent annually over the next five year. In addition, 38 percent of the executives at such companies as Anderson Exploration Ltd. (AXL.TO), Canadian Occidental Petroleum Ltd. (CXY.TO) and Petro-Canada (PCA.TO) said they expected gas prices to rise more than 15 percent over the next year and a half. Thirty-two percent predicted a 6-10 percent increase. For 2000, those surveyed predicted an average gas price of C$3.75 per thousand cubic feet, up from an average expectation in last year's survey of C$2.96. The outlook for oil was brighter than in last year's poll, with 92-percent expecting world demand to increase over the next five years, up from 86 percent last year. The average prediction for West Texas Intermediate crude in 2000 was $25.48 a barrel, up from expectations last year of $18.19. Exploration and development spending reflected the price optimism, with more than 75 percent saying they had boosted expenditures in 2000 from 1999. In addition, more than half said they planned to increase acquisition spending. While investment has been slow to return to the energy sector following the 1998 oil price crash and the recent interest in technology stocks, fully 98 percent of executives believed their stock prices would improve over the rest of the year. As well, 81 percent said they believed available capital for the industry would increase during the next five years.

To: DRT who wrote (523)	7/19/2000 4:19:48 PM
From: Len Hynes	Respond to of 601

Hi DRT; Gentry continues to be featured as one of "Outstanding Investments" favorite stocks.This appeared in the July 15 edition: Gentry Resources Ltd. - GNY - T Gentry Resources has made arrangements to purchase 1.4 million of its common shares, to be returned to the treasury. In doing so, the company is adding to its interest and increasing shareholder value. To date, Gentry has purchased 897,000 common shares at an average price of $0.39 per share. Most of these shares have subsequently been returned to Treasury. Production revenues for the first three months of 2000 increased to $2,992,751 compared with $952,790 in the corresponding period in 1999, representing a 214% increase. Cash flow from operations increased 788% to $1,347,537 compared to $151,688, while net income after taxes was $524,068 compared to a loss of $178,962 a year ago. And the company has tripled its gas production at Thornbury. In the first quarter of 2000, GNY participated in a three-well drilling program in the Thornbury area of northeastern Alberta, which resulted in two successful gas wells and one abandoned well. Due to the environmental sensitivity of this area, all drilling operations were required to be completed by Feb. 28, 2000. A total of five wells from the previous drilling program were also tied in and put on production in April. Production has tripled in the last two months, now averaging approximately 800 mcf/d (thousand cubic feet per day) net to Gentry. Additional plant compression is planned for later this year and will again add to overall production volumes. Future plans also include the evaluation of a deeper Devonian prospect, which was the focus of a recent seismic program, as well as continuing to develop and increase the reserves and deliverability of the existing field. Several wells are planned for the fourth quarter this year. The company owns an 18.3% working interest in the Thornbury lands. Gentry Resources: 101 - 6th Avenue S.W., Suite 2500, Calgary, Alberta T2P 3P4; Phone: 403-264-6161; Fax: 403-266-3069; Website: www.gentryresources.com

To: DRT who wrote (523)	8/9/2000 8:20:19 AM
From: Len Hynes	Read Replies (1) \| Respond to of 601

Hi DRT; Here's an interesting article from Bloomberg on the outlook for oil prices: Bloomberg Energy Tue, 08 Aug 2000, 11:18pm EDT 08/08 21:28 Crude Oil Jumps as Inventory Drop Raises Concern About Supply By Taizo Hirose Tokyo, Aug. 9 (Bloomberg) -- Crude oil rose almost 3 percent as crude inventories unexpectedly fell to the lowest level in 24 years, raising concern about tight winter supplies of heating oil. Crude supplies dropped 2.1 million barrels to 282.6 million barrels last week, the American Petroleum Institute said. Analysts surveyed by Bloomberg had expected the report to show an increase of between 2 million and 2.9 million barrels, after dropping 9 million barrels the week before. A 17 percent increase in imports last week to 9.36 million barrels a day wasn't enough to satisfy near-record demand from U.S. refiners. ``The number fueled already growing anxiety that refiners may not be able to meet winter heating oil demand,'' said Katsumi Ebihara, commodities futures dealer at Globally Corp. Crude oil for September delivery rose as much as 84 cents, or 2.9 percent, to $29.96 a barrel in electronic trading on the New York Mercantile Exchange, increasing its gain this month to 9 percent. Distillate fuel inventories, which include heating oil and diesel, also fell unexpectedly, dropping 1.18 million barrels to 111.35 million barrels. Analysts had expected gains of between 800,000 barrels and 1.5 million barrels. The decline left distillate inventories 20 percent lower than a year earlier and heating oil supplies down 39 percent with only a few months left before the start of the peak-demand winter heating season. The drop in U.S. crude oil supplies was concentrated along the Gulf Coast, the refining heartland and a major importing center, where supplies fell 5.43 million barrels. That decline was partly offset by a 3.40 million-barrel rise on the West Coast.