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Gold/Mining/Energy : Canadian Oil & Gas Companies -- Ignore unavailable to you. Want to Upgrade?

To: SofaSpud who wrote (5097)	5/26/1998 5:22:00 PM
From: Richard Saunders	Read Replies (1) \| Respond to of 24921

David/ ...... anticipating vs. reacting - been noticing some of the recent slew of qtrly. reports and get the sense quite a few capital expenditure program budgets are being pared back. Pan Camadian was the most recent one I noticed. Anyways, when do you think the "analysts" are possibly going to realize that just maybe current estimates re: '98 WTI benchmarks are playing with high numbers? In your digging have you noticed any backoffs in general pricing assumptions? I think consensus re: cdn gas side is somewhere between $1.80 - $2.00 which probably could be argued as "reasonable". I'm not exactly sure where consensus is re: oil pricing but it seems most analysts have been using approx. $17us WTI. We're already into the 22nd week of '98 and WTI benchmark hasn't been near the $17 level since around last Christmas. Either (imo) there's alot of catching up to be done (higher prices..... personally don't see them) or some of the number crunchers are going to be getting their erasers out before too long. Falling prices ahead?............. just a ponder. Might be a good time to re-check the shopping list too....