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Strategies & Market Trends : Strictly: Drilling II -- Ignore unavailable to you. Want to Upgrade?

To: Knighty Tin who wrote (29643)	3/20/2003 11:01:34 AM
From: Art Bechhoefer	Respond to of 36161

KT--One has to assume that there is a robust growth in demand for oil and gas, particularly in the Asian markets for UCL production. I do not assume that oil prices will fall to near $20, given this increase in demand, and notwithstanding the release of oil from the strategic reserve. Rather, assuming $25 oil or better, this creates good conditions for earnings for UCL, most of whose reserves are off shore in Asia, Africa, L.A., and the U.S. Revenues from the reformulated gasoline patents should be seen not as a given but as an extra that would probably double the price of the stock on that issue alone. Art