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

To: Tomas who wrote (19720)	3/5/2003 8:49:16 PM
From: quehubo	Respond to of 206092

Its nice to see RJ's old price forecasts for $5 NG being so wise and SSB coming out now with 3 strong months into the year average with what used to be a wild price forecast. Even SSB is going out on a limb here predicting less than 700 bcf in storage! Whew! I hope they did not have to think real hard over that estimate. March forecasts look like the last two weeks will be the opposite of the first two. The damage will be done, as by March 15 we will have about 625 bcf in storage, with another 2-3 weeks of draws to follow. Canada will be drawing hard through April it appears. With NA weak production and Canada's storage woes we (USA) may have draws in the first 2 weeks of April if the weather cooperates. The drop in rig count last week did not help OSX. Activity levels drive earnings for drillers/service. Energy prices (Cash flow) is a leading indicator of future activity levels and earnings for service drillers. Forward earnings multiples are decent especially in this market. Investors appear reluctant to discount a vigorous recovery until it has clearly started. Who can blame them?