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

To: profile_14 who wrote (27457)	11/26/2003 8:03:05 AM
From: Ed Ajootian	Respond to of 206184

profile_14, But we know any rise in natty prices based mostly on short-covering would probably be fairly short in duration. I'm actually starting to like the current situation a lot, where we have historically high natty prices so the fundamental performance of E&P companies is still gonna be very good, but the natty prices are not so high that we have the commodity price players frothing at the mouth and bidding up the prices of my favorite micro cap E&P stocks all to hell. Folks are beginning to accept the fact that we now have undergone a "step change", as evidenced, for example, by the use of a $2/mcf value by Van Levy of CIBC in a recent Brigham Exploration research report, in determining what # to put for the value of their natgas reserves in the ground. Van Levy is a pretty conservative guy, so it is a bit surprising to see him use so high a #.