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

To: jim_p who wrote (30159)	2/23/2004 1:29:43 PM
From: t4texas	Read Replies (2) \| Respond to of 206085

did you check sng volume and price movement today? sng really moved up today. at the time of your post sng dropped a bit, but it seemed to shake it off and zip up again. since there were only about 250K sng shorts, it looks like it is not short covering today.

To: jim_p who wrote (30159)	2/23/2004 3:57:03 PM
From: aerosappy	Read Replies (1) \| Respond to of 206085

<<Bought more RRI today at 7.05-7.10. We can't be far from the bottom I "hope".>> I joined you today, back in RRI. But isn't that something -- EP closing higher than RRI....

To: jim_p who wrote (30159)	2/23/2004 7:42:13 PM
From: Ed Ajootian	Read Replies (1) \| Respond to of 206085

Jim_P, SNG -- As they said in their earlier PR's they encountered the prospective pay zones (the upper-most of which is the Upper Mic Mac) about 100 meters structurally higher than anticipated. Thus it would seem to me that they would've only gone down to 5,500 meters at most, vs. the 5,600 meters that the well had initially been permitted for. So they only came up about 92 meters short of targeted TD, as adjusted. Considering they encountered the Upper Mic Mac at 4,285 meters it would seem to me that El Paso (the operator) was just being prudent, to not try for that last 92 meters at the risk of blowing out the whole well and losing the chance to see if all that stuff they drilled through up above has a sufficient amount of hydrocarbons in it for the well to be considered commercial. I heard they found so much goddam pressure they were worried that they might run out of drilling mud before more could get delivered to the site! Greg Novaks is as good a hype artist as the rest of them, but this is one case (IMO) where the hype is justified. BTW, my answer would not change if the well turns out to be non-commercial. I bought some more stock this morning on the news, being surprised that it was not immediately running up. Then once it got to $2.95 I couldn't resist and did something I almost never do, I day-traded out of 60% of what I bought a few hours earlier.