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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: bw who wrote (2380)	10/21/1997 4:19:00 PM
From: bw	Respond to of 95453

Update on EGAS: Just got off the phone with Chuck Torrey [423 531-6562] of EGAS and found out the following info: Earnings released on Nov. 15th Company is virtually debt-free [long-term] Only 1 million share float Warrants [1 million shares] will be exercised when stock hits $16 Company has 3-5 years of drilling inventory Wells in Appalachia are not as deep [less drilling costs] Price realized for gas is higher than from Gulf [less transportation costs to the East Coast] Technology utililzed is "well above industry average" using "geographics" Natural gas prices are high and "bubble" is out of natural gas market at the present time, meaning strong demand will dictate price going forward into winter Outlook for future is "very positive"