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

To: Think4Yourself who wrote (74996)	9/28/2000 6:31:35 PM
From: Frank	Read Replies (2) \| Respond to of 95453

JQp-add depletion to your list-our relentless ally. Also,the probability this winter will regress toward the mean temperature. Finally, many new homes built with NG furnaces-this new demand factor is simply not recognized due to recent warm winters--Frank

To: Think4Yourself who wrote (74996)	9/29/2000 12:53:09 AM
From: ronayre	Read Replies (2) \| Respond to of 95453

JQP, they'll never get it if these spinmasters keep it up. His meditation seems more like wishful thinking. Oh well, anything to get some downticks. Bloomberg Energy Fri, 29 Sep 2000, 12:13am EDT 09/28 14:57 Natural Gas Falls on Speculation New Wells Producing More Gas By Bradley Keoun New York, Sept. 28 (Bloomberg) -- Natural gas fell more than 6 percent on speculation that U.S. producers may be pumping enough to provide adequate inventories before peak cold-weather demand sets in. Supplies rose a greater-than-expected 77 billion cubic feet last week, the American Gas Association said yesterday. While inventories still were 15 percent below year-earlier levels, the large increase may signal that gas from new wells drilled in the past year may finally be entering the market, analysts said. ``The more that I've meditated on the true meaning of the AGA report, the more I see evidence that supply may be catching up with demand,'' said Tim Evans, a senior energy analyst with IFR Pegasus in New York. Drilling has been strong since the fourth quarter of last year, he said. ``We may have seen the first signs of that in these numbers.'' Natural gas for November delivery fell as much as 34.7 cents, or 6.4 percent, to $5.10 per million British thermal units on the New York Mercantile Exchange. Prices had been at or close to record highs all month. Price have more than doubled this year on concern that inventories were not rising fast enough to reach the 3 trillion cubic feet analysts say is needed by Nov. 1 to ensure adequate supply for peak demand in the winter heating season. For the week ended Sept. 22, U.S. inventories stood at 2.402 trillion cubic feet, according to the AGA. The number of gas rigs in the U.S. grew 38 percent in the past year to 803 as of Sept. 22, according to from Baker Hughes Inc., a Houston-based drilling and exploration company.