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To: Emec who wrote (7401)4/15/1998 9:27:00 PM
From: Starduster  Respond to of 34592
 
Will you have time to tell me how you came up with your analysis tonight? Sandie



To: Emec who wrote (7401)4/15/1998 11:04:00 PM
From: Sandra  Read Replies (1) | Respond to of 34592
 
Dave,
Some NORT numbers, and comprables
Co.___Shares____Price/bk/ratio__PE____PSR___Share Price
PKD___76.7m________2.15_______30.40__2.01_____$10.56
CLNP___8.0m________1.18_______18.79__2.43______17.00
GW___164.3m________4.19________N/A___3.52_______4.125
CDG___15.9m________3.05_______13.69__2.42______45.75
NORT__25.8m________3.55_______11.72__0.73_______1.50
Also:
From today's WSJ Commodities column;

"We're seeing gasoline demand at near peak-summer levels in April and refinery units going down. It
seems the market just got alerted to the fact that gasoline has the ability to pull the entire crude complex
higher as the summer driving season nears," said Tim Evans, senior energy analyst with Pegasus
Econometric Group.

The Department of Energy estimates domestic gasoline demand this summer, which it defined as the
period from April to September, will rise 2.8% from last summer, far exceeding growth rates in recent
years. This translates into a 226,000-barrel-a-day rise in demand from last summer, when demand hit its
highest level on record.

There was also sentiment in the market that crude oil had bottomed out. After OPEC and non-OPEC
producers agreed in March to cut production to support sagging oil prices, several analysts had called
$15 the bottom end of crude oil's price range.