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

To: Gerald Atwater who wrote (4690)	7/29/2000 11:51:38 AM
From: Gerald Atwater	Read Replies (1) \| Respond to of 4851

Record of Decision for the Pinedale Anticline is approved. A news release to that effect will be out Monday. There will be no restrictions on number of rigs working at the same time. And on 40-acre spacing. This is excellent news for Ultra Petroleum and the other companies. Once the "sweet spots" are found the number of productive wells will increase quickly, a la McMurry and Jonah Field (McMurry now has more than 174 wells there, or rather AEC has). The regulatory hurtles are over, full speed ahead! With enough credit line for this year's 18 wells, growing reserves, production, cash flow and earnings, what will Ultra look like in 12 months: A very solid company with a growing assets in my opinion. Best wishes to all who stayed the course and are here now to participate in the REWARD side of the risk/reward equation. Gerry Atwater