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

To: Tommaso who wrote (81605)	12/13/2000 11:48:01 PM
From: energyplay	Respond to of 95453

Royale (ROYL) is thinly traded... I plan to hold most of mine until at least after they report 4th quarter numbers. Actually, I will probably hold somewhat longer than that. They California natural gas prices may be high for the rest of the year, and I expect ROYL to go over $10. As a minimum, I expect that will have enough money to pay down debt and expand capex greatly in 2001. Can't say what the maximum upside is - but with prices sky high, they could make >6 months of earnings in 1 st qtr. of 2001. S.F. Chronicle reported today that damns in Oregon and Washington are running to supply power to California. Normally, California dams supply power to OR and WA in winter, and they supply hydro power to California in the summer to run air conditioning. Now, there may be less water this summer to run California air conditioners - this likely means more demand for Natural gas for electricity production. So in addition to eating up the NG storage, California is eating the stored water. Off course, a BIG rainfall would fix this, but a low rainfall won't.