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

To: NucTrader who wrote (7735)	1/12/1998 6:57:00 PM
From: David Spruiell	Read Replies (2) \| Respond to of 95453

Anadarko Expects to Announce Record Results Monday January 12, 5:00 pm Eastern Time Company Press Release SOURCE: Anadarko Petroleum Corporation HOUSTON, Jan. 12 /PRNewswire/ -- Anadarko Petroleum Corporation (NYSE: APC - news) said today the Company expects 1997 operating and financial results to be the best levels ever recorded in its 29-year history. Comments from Anadarko senior management came today in a meeting with security analysts held in New Orleans. Key points made during that meeting include the following: Operating Results for 1997 reached record levels. Production of oil and gas exceeded the 1997 goal of 44 million energy equivalent barrels (EEBs), an increase of more than 17 percent. The growth was achieved through a significant increase in exploration and development drilling activity in the U.S. The Company's five year average cost of finding new reserves should remain close to $3.25 per EEB and reserve replacement should exceed 300 percent of production. Total proved reserves are expected to reach about 700 million EEBs at year-end 1997. Financial Results (to be released January 29) should exceed consensus analyst expectations for the fourth quarter and full-year 1997. Annual cash flow and net income should be the highest levels ever recorded in Company history. 1998 Goals for Anadarko include an increased capital investment program that will exceed $700 million. Company oil and gas production is expected to increase by about 20 percent compared to 1997 to more than 53 million EEBs. First production from the Hassi Berkine South (HBNS) Field in Algeria is on schedule and should be reflected in operating and financial results for the second quarter of 1998. Complete operating and financial results for 1997 should be released to shareholders on January 29, 1998 and capital spending plans will be announced January 30, 1998. This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Anadarko believes that its expectations are based on reasonable assumptions. No assurances, however, can be given that its goals will be achieved. See Additional Factors Affecting Business under Item 7 of the Form 10-K in the 1996 Annual report. SOURCE: Anadarko Petroleum Corporation >>>Crude down $0.16 today, Along with the news that Iran was to start the actual pumping of oil tomorrow. Still long UTI, could have sold today at $16+ but nnnnNNNnnno. I was encouraged by PKD. >>> Closed at $15.00 David EDIT: Bad news pathfinder.com@@bOTY8fE1YwEAQHZs/business/latest/ David