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

To: upultra who wrote (4132)	5/28/1999 10:56:00 AM
From: Hickory	Read Replies (1) \| Respond to of 4851

ULTRA, I don't see where it says "by the end of this FISCAL year." It merely says, "by year end," which could mean by Dec. 31, 1999. Yes, 7 or 9 wells is better than zero wells, but who knows how many of those will be significant producers. Seems to me that it still is going to take a long time for UP to get on its feet. The Mesa area is the core of UP's holdings. Mesa 15-8 was its most prolific producer. UP gave up half its interest in its best prospect for about 25 cents a share. Either UP doesn't place a very high value on its holdings or it closed a desperation deal in order to be able to pay its current payables--kind of like the guy who hands over his wallet because the thug has a gun to his head.