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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: Second_Titan who wrote (3237)	7/30/2001 11:49:32 AM
From: jim_p	Read Replies (3) \| Respond to of 206093

Que, Welcome to the dark side. I think our ace in the hole on PENG is the production growth. When you shift your cap-x from wells that have rapid/normal depletion to wells that take 6 months to de-water and produce flat over 10-15 years, there will be a decline in production growth year over year until the shift is completed. PENG is in the very early stages of shifting it's cap-x over to CBM. As long as PENG stays on the current course, we will see production declines over last year. How long can you maintain the highest CF multiple in the patch and not show any growth? Jim