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

To: jim_p who wrote (80476)	11/30/2000 10:49:01 PM
From: jim_p	Read Replies (1) \| Respond to of 95453

Nice well limited to only 80 million cubic feet per day by facilities: Gulf Indonesia, Others Report 'Record' Gas Flow At Suban-4 Thursday, November 30, 2000 06:03 PM ET CALGARY (Dow Jones)--Gulf Indonesia Resources Ltd. (GRL, news, msgs), Talisman (Corridor) Ltd. and Perusahaan Pertambangan Minyak Dan Gas Bumi Negara, or Pertamina (P.PTM, news, msgs), reported "record gas flow" from a Suban-4 delineation well in the corridor block production sharing contract area in Sumatra, Indonesia. Gulf Canada Resources Ltd. (GOU, news, msgs) has a 72% stake in Gulf Indonesia, an oil and gas company. In a news release, the companies said the flow rate from the Suban-4 well "broke the record for the highest flow rate of any well drilled by Gulf Indonesia in South Sumatra." The companies said a commingled test of perforations into three sections at the well flowed at a rate of 80 million cubic feet of natural gas a day with about 420 barrels of condensate a day. They said the flow rate was "restricted by the capability of the test equipment." The companies said the productivity of the well combined with the low carbon dioxide content "means development costs to bring the gas to market could be US$1 a barrel of oil equivalent or lower." Talisman (Corridor) Ltd. is a unit of Talisman Energy Inc. (TLM, news, msgs), an oil and gas company. Pertamina is Indonesia's state oil and gas company. Jim

To: jim_p who wrote (80476)	12/1/2000 12:05:09 AM
From: Nello Filippone	Read Replies (1) \| Respond to of 95453

<<Fellow Merrill Lynch analyst Steven Pfeifer added that there were concerns over "the possibility of a large, unreported inventory build in China." >> I think that Chinese are much smarter than filling their reserve with $30+ crude, thats if China even has a National reserve that needs to be filled. They may have found the 200 million missing barrels from 1998. I think that the next weeks API's will show the reality that we are not adding to inventory and if not for the injection of 20Mb from the SPR we would easily have crude levels in the 270 level! ________________10/24/00_______11/24/00 SPR_____________573.5Mb_________554Mb_____(19.5)Mb Crude___________285.6___________290.1______4.5 Gasoline________192.2___________191.2_____(1.0) Heating Oil_____46.0_____________48.9______2.9 Increase in crude/product from 10/24 6.4Mb The clincher is going to be Natural Gas, we currently are at the same levels of inventory that we were last year at the end of December, forget the fact that we had a warmer than usual winter. The only thing I regret is that Bill Richardson is not going to be around January 20, 2001 when Natural Gas inventory levels are around the 1700 level and NG is selling for $8.00. Do you think he would try blaming the Canadians for sending cold fronts south of the border? ...Can't wait till RIG's conference call at 12:00 tomorrow, there will be plenty of good news no doubt Energy is the place to be ...... Nello

To: jim_p who wrote (80476)	12/1/2000 7:09:27 AM
From: Winkman777	Respond to of 95453

<<the possibility of a large, unreported inventory build in China>> China is building its own SPR, which is appropriate for a burgeoning superpower. This appears to account for the impotence of OPEC production increases. IMO they will not sell this strategic reserve, but they will eventually stop filling it. This as well as the normal after winter slowdown in demand seems to be what OPEC is getting ready for - planning production cutbacks. With the hawkishness of some OPEC members and the effectiveness of OPEC's last cutback, we will very likely see somewhat lower (high 20's), but still high enough crude prices. All JMHO. Market futures up substantially, hopefully a little recovery for oils also. Record volume yesterday on NYSE, with huge buy orders at the close (per Pisani). Looks like a turn upward. We'll see. Good luck all. Winkman