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Gold/Mining/Energy : PIONEER NATURAL RES. (PXD) -- Ignore unavailable to you. Want to Upgrade?

To: Rick Anders who wrote (179)	4/7/1999 10:34:00 PM
From: Noel	Read Replies (1) \| Respond to of 233

Hard to say. I do believe that Rainwater took a bath on this one right along with the rest of the shareholders. He got caught in a demand shock, with many events coming to upset the premise upon which he was rebuilding the company - that asian demand would drive up energy prices. In short, he bet big on the asian economy to become the world's biggest energy consumers. When the bottom fell out of the energy markets, PXD was caught overplaying their position... Regards, NOEL