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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: Tenchusatsu who wrote (175688)	10/2/2003 12:08:30 AM
From: tejek	Respond to of 1582287

Ted, stick with NGAS and your other NG stocks. Ever since I was stopped out at $4.56, I never got back into NGAS. I'll probably buy a few shares today, though, based on it approaching the bottom of its trading range. Don't forget, I've made my best NG money with MSSN and IVAN. ted

To: Tenchusatsu who wrote (175688)	10/2/2003 1:32:21 AM
From: tejek	Respond to of 1582287

Ten, some bullish news on MSSN. ted ********************************************************** Mission Resources to Sell East Texas Properties for $21.5 Million; Updates Drilling Progress HOUSTON--(BUSINESS WIRE)--Oct. 1, 2003--Mission Resources Corporation (Nasdaq:MSSN) announced that it has signed a definitive agreement to sell all of its East Texas assets to Danmark Energy for $21.5 million. All of the properties in this region are in the East Texas Field, a mature oil field with relatively high unit operating costs. Net production associated with these properties is approximately 1,150 barrels of oil equivalent per day from 180 wells with current estimated reserves of 4.0 million barrels of oil equivalent. The Company intends to use the proceeds to acquire Gulf Coast or South Texas natural gas properties. The sale is expected to close in late October. "This asset sale helps move Mission closer to meeting its corporate goals of lowering overall lifting costs and changing our asset mix to primarily natural gas from primarily oil," said Robert L. Cavnar, Mission's chairman, president and chief executive officer. "In addition, re-deploying the sales proceeds will enable Mission to focus on regions where we have unique expertise." The Company believes that new production volumes coming on from the 2003 drilling program will more than offset production lost from the sale properties and thus overall production guidance for 2003 remains unchanged. Additionally, this sale, combined with new production, will improve the Company's production mix from approximately 39% gas in the second quarter of 2003 to approximately 50% gas by the end of the year. Mission also announced further details regarding its 2003 13 well drilling program. Seven of nine wells drilled so far have been successful, four are in various stages of drilling/completion, and one is scheduled to spud in late October. Information on two recently completed wells and updates on five other wells is set forth below: