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Strategies & Market Trends : YEEHAW CANDIDATES -- Ignore unavailable to you. Want to Upgrade?

To: Ken W who wrote (2535)	7/9/2003 5:50:00 AM
From: Ditchdigger	Read Replies (2) \| Respond to of 23958

Morning Ken, <what happens if Iraq falls apart or their is a world wide upheavel due to the mideast mess?> Anything can happen, and I certainly don't like what is taking place in IRAQ, loss of life and escalating costs, not good..MSSN, I'd say you are correct on the hedging, let's hope they begin doing a better job of hedging than last reported "Average sales price including the effect of hedges: Oil and condensate (per BBL) .............................. $ 25.09 $ 18.76 Natural gas (per MCF) ..................................... $ 5.01 $ 2.69 Average sales price excluding the effect of hedges: Oil and condensate (per BBL) .............................. $ 30.92 $ 18.30 Natural gas (per MCF) ..................................... $ 6.23 $ 2.35 "All of our commodity derivative instruments represent hedges of the price of future oil and natural gas production. We estimate the fair values of our hedges at the end of each reporting period. The estimated fair values of our commodity derivative instruments are recorded in the consolidated balance sheet as assets or liabilities as appropriate. At March 31, 2003, they represented a $9.3 million current liability and a $741,000 long-term liability." .................... "Oil production decreased 42% from 989,000 barrels in the three month period ended March 31, 2002 to 570,000 barrels for the first quarter of this year" ........ "Gas production was down 37% compared to the same quarter of 2002 with 2,284 Mmcf and 3,635 Mmcf for the three month periods ended March 31, 2003 and 2002, respectively" I don't know about this one, and will hold my opinion..Chart looks parabolic..Sorry if I've been a bit testy lately, think I dropped a valve in the G car..an expensive bummer<g>