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To: energyplay who wrote (34249)	5/22/2003 8:12:46 PM
From: TobagoJack	Respond to of 74559

energyplay, thank you for the heads-up and details, else I would be in a panic, wondering if I should rush for the emergency exit ;0) I figure I must check my emotions at the door, and leave my greed in the closet, buy and hold my starting stake in a basket of royals (diversification of corporate, geological, customer risks), not trade them (although I have already), and be ready to double-up two more times as they inevitably wobble or do cash call. Remember, I am at the learning stage, and however good I may think I am, I are not at the level of the energyplays and KastelCos of this world, yet. I am triple heavy on Vermilion, and equal weight in Enerplus, NCE Petro, Hugoton, San Juan, Primewest, and Advantage. I was thinking about WMB but have not pulled trigger due to laziness; and may have to shoot ELP at the same time. I am starting to like Brazil. Thanks again for the heads-up. Chugs, Jay

To: energyplay who wrote (34249)	5/23/2003 1:33:50 AM
From: elmatador	Read Replies (1) \| Respond to of 74559

ELP (COPEL) is Parana state electric utility. Parana state, whose capital is Curitiba, which is my base city when not working abroad. Curitiba double the GNP income per capita of Brazil (something like S. Korea) COPEL is considered the best electricity utility in Brazil. We didn't 'hooked' the southern part of the country to the national grid, once rain didn't fall in the rest of the country for a couple of years (87% of the energy there is hydro power) we could not help them. I hope they are reinvesting in transmission. IBAMA -the environmental agency- were given operators a hard time to allow construction to proceed. Brazilian energy market suffered from long years of under-investment. The energy agency was making long term plans based on the grow of the formal economy. Since the informal economy was growing fast and was not part of the technocrats picture, they were caught with their trousers down since demand kept outstripping supply. When they got the blackout -when rain didn't fall- government engaged on a program of savings. Brazilian companies and household are notorious to waste electricity. Once they discovered that they could save money they did too well. Now there is plenty of energy but consumers are happy with their savings.