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Gold/Mining/Energy : Ultra Petroleum (UPL) -- Ignore unavailable to you. Want to Upgrade?

To: ISPYOIL who wrote (4034)	4/6/1999 1:23:00 PM
From: Casey	Read Replies (1) \| Respond to of 4851

ISPY.. <<LIGHTS OUT-meaning most of UP's people assets and upside will be gone by yearend, letting the Vancouver big holders pump and dump one last time, the asset with the upside, the Pinedale Anticline acreage, will be sold while the asset which is fully valued, the Jonah properties, will be kept provide cash flow for the considerable corporate overhead and the coming move to Houston to invest in assets of Watford's choice, most of the Denver people will not be making the move, later the Jonah field will be sold and reinvested in producing properties nearer Houston, when Bruner left, the lights may have not gone out but they are dimming fast >> Where do you get your information from? This seems contrary to logic. Also, the Vancouver big holders have long ago offloaded any in-the-money options or warrants, and are sitting on large amounts of way out-of-the-money options/warrants, most north of $4.00. So why would they be shooting themselves in the foot?

To: ISPYOIL who wrote (4034)	4/6/1999 2:23:00 PM
From: upultra	Read Replies (2) \| Respond to of 4851

Your comment makes me question whether or not you understand what Ultra Petroleum is about. UP is a junior gas exploration company who controls the largest land position in one of the (if not the) natural gas pools in existence (at least North America). I don't know where you get the idea that UP is moving to Houston. UP is a Canadian company with a regional office in Denver (to be closer to the Green River I assume). Moving to Houston makes no sense. Watford was brought on to help develop the assests Ultra has. Selling part of the huge land holdings makes sense. Ultra at the current time and size has no chance of developing all of its' land (we're talking hundreds of wells). If Ultra can sell a partial interest in its' land claim, this partner? can then take on the cost of drilling some wells (which Ultra would get a portion of the revenue) AND then Ultra will have say $50 million cash -- enough for 25 to 30 wells of its own. You are right about one thing, Ultra has lots of UPside potential. I see a share price of $3 / share as soon as the land deal is complete and at least $5 / share by yearend. (especially is natural gas prices continue to be strong and even improve further. cheers, riker