New Book Uncovers The Secret to Turning Wild and Creative Ideas Into 
Multi-Million Dollar Innovation
PR Newswire, 04/24/01

Enron India Eyes 1st Step To End Pwr Proj - Board Member
Dow Jones Energy Service, 04/24/01

IT'S TV CO PICKS NCUBE CORP TO BE VIDEO-ON-DEMAND SERVER PROVIDER
Asia Pulse, 04/24/01

INDIA'S MAHARASHTRA STATE NEEDS ONLY 300 MW OF ENRON POWER
Asia Pulse, 04/24/01

India: Centre proposes panel to defuse Dabhol crisis
Business Line (The Hindu), 04/24/01

Enron PPA to be renegotiated
The Economic Times, 04/24/01

Enron directors mulling India deal Wednesday
The Daily Deal, 04/24/01

No date set for electricity D-Day Government hopes deregulation will be ready 
by May, 2002, but deadline uncertain
The Globe and Mail, 04/24/01

Milwaukee Journal Sentinel Street Smart Stock Analysis Column
KRTBN Knight-Ridder Tribune Business News: The Milwaukee Journal Sentinel - 
Wisconsin, 04/24/01

UK: UPDATE 2-Saudi's Naimi to meet US Energy Secy on Friday.
Reuters English News Service, 04/23/01


New Book Uncovers The Secret to Turning Wild and Creative Ideas Into 
Multi-Million Dollar Innovation

04/24/2001
PR Newswire
(Copyright (c) 2001, PR Newswire)

CHICAGO, April 24 /PRNewswire/ -- You're at your local grocery store or 
shopping mall when you spot it -- that one product that makes you say out 
loud, "Who came up with that idea and why didn't I think of it first?" As it 
happens, though, you may have thought of it. So why aren't you now reaping 
the benefits from its sales? Companies such as Bacardi, Coldwell Banker, 
Enron and Starbucks can tell you why. You were hit with a humorous bazooka. 
For many years companies have been touting their innovation, techniques and 
experiences, but as they can tell you, it takes dedication and perseverance 
to arrive at the point where innovation is a strategic part of any business. 
Innovation begins with a creative idea; however, without an environment that 
allows that idea to grow, nothing comes of it except frustrated comments 
like, "Why didn't I think of it first?"
In his new book, Ban the Humorous Bazooka: (And Avoid Roadblocks and Speed 
Bumps along the Innovation Highway), innovation guru Mark Henry Sebell shares 
his experiences and case studies to show how and why ideas are quickly 
silenced. As the founder and president of Creative Realities, Inc., a Boston- 
based consulting firm specializing in innovation processes that dramatically 
increase the odds for successful outcomes, Sebell spells out what it takes to 
achieve real breakthroughs in innovation, in spite of the speed bumps 
(individual behaviors) and roadblocks (group behaviors and cultural norms) 
that impede progress. 
Sebell's impressive Who's Who client list has taken part in the book, 
allowing him to share stories from the front lines of innovation, humanizing 
the concepts and providing tangible and practical tools to make innovation 
work beyond any and all expectations. "... I now keep a toy bazooka 
prominently displayed in my office as a constant 'innovation reminder' that 
every idea, no matter how unconventional or implausible, has potential value 
and should always be encouraged," says Alex Perriello, president and CEO, 
Coldwell Banker Real Estate Corporation. 
Sebell defines a humorous bazooka as a funny, witty comment that, 
intentionally or unintentionally, shoots down another person's idea. In other 
words -- an innovation killer. In "Ban the Humorous Bazooka," readers examine 
the nine myths of innovation, bringing a greater awareness to the exciting 
and messy work that must be done in order to discover, nurture, launch and 
implement a great idea. Sebell also utilizes past and current client examples 
to provide the reader with the five phases of innovation essential to any 
creative and innovative pursuit. Starting with objective setting and then 
following the phases through discovery, invention, the greenhouse and 
implementation and launch, Sebell paints a thorough and motivating sequence 
of events. 
Sebell counts among his clients such firms as Compaq Computer, Walt Disney 
World Soup, Enron, PepsiCo, Citigroup, Starbucks and Dewar's Scotch. 
MAKE YOUR OPINION COUNT - Click Here 
http://tbutton.prnewswire.com/prn/11690X71118673


/CONTACT: Michelle M. Rathman of Impact! Communications, Inc. for Dearborn 
Financial Publishing, 888-68-impact, or mrathman@DoItWithImpact.com / 05:11 
EDT 

Copyright , 2000 Dow Jones & Company, Inc. All Rights Reserved. 


Enron India Eyes 1st Step To End Pwr Proj - Board Member
By Andrew Dowell
Of DOW JONES NEWSWIRES

04/24/2001
Dow Jones Energy Service
(Copyright (c) 2001, Dow Jones & Company, Inc.)

NEW YORK -(Dow Jones)- Enron Corp.'s (ENE) troubled Indian unit Dabhol Power 
Co. is mulling a preliminary move toward terminating its project in the state 
of Maharashtra in light of its inability to collect payment for power already 
delivered, a member of the company's board said Monday. 
Enron, however, plans to complete Phase II of the 2,184-megawatt power plant, 
said Don Sturmer, a vice president at Bechtel Enterprises (X.BTL) and member 
of the board at Dabhol Power, in which Bechtel owns a 10% stake.
The company at its board meeting Wednesday in London will consider what's 
called a preliminary termination notice, the first of three steps that end in 
abandonment of the project, Sturmer said. 
Step two would be an official termination notice, and step three would be a 
notice that the company was surrendering control of the project, said 
Sturmer, who called the first step "procedural." 
"We're nowhere near steps two and three yet," he said. "Whether we go forward 
with (a preliminary termination notice) will probably be decided at the board 
meeting on Wednesday." 
Issuing the preliminary termination notice could put Dabhol Power in a 
position to suspend deliveries as it negotiates its payment disputes with the 
Maharashtra state electricity board, or MSEB, Sturmer said. As reported, the 
electricity board intends to challenge those bills at the meeting Wednesday. 
A spokesman for Enron Corp., which with a 65% stake in Dabhol Power is the 
project's largest shareholder, wouldn't comment on topics for discussion at 
the upcoming meeting. Other shareholders include General Electric Co. (GE), 
which owns 10%, and the MSEB, which owns 15%. 
Dabhol Power is moving ahead to finish the second phase of the project, which 
is 95% complete, Sturmer said. Phase two will add two nominally rated 
750-megawatt units to the existing 750-megawatt unit and add a liquefied 
natural gas terminal and regasification unit to allow the plant to shift from 
running on naphtha to running on gas. 
"The current plan is to continue construction...and having the entire 
facility commercially available by the end of this year," he said. Disputes 
Over Payments For Power Delivered To MESB 

The controversial $3-billion project, India's largest foreign investment, has 
been mired in financial disputes since the electricity board began missing 
payments last year. According to Sturmer, the board owes Dabhol Power $48 
million for power delivered in December and January. The board made a $24 
million payment for February, but has a $31 million bill for March coming due 
Wednesday. 
Dabhol Power officials met Monday with lenders to update them on the dispute 
and to discuss steps the company might take in light of the missed payments. 
Dabhol Power officials weren't available Tuesday to comment on the 
outstanding payments. 
According to some news reports, Dabhol Power was seeking to secure its 
lenders' approval for a plan to terminate the project. A Dabhol Power 
executive and a banker, both involved in the talks, wouldn't confirm or deny 
the reports. 
John Ambler, spokesman for Enron's Global Assets Group, called the meeting a 
regular status update. The lenders hadn't formulated a response by late 
Monday, the banker said. The talks were to continue Tuesday. 
According to Indian news reports, Enron may seek approval at the meeting from 
Dabhol shareholders to sell some or all of its stake in the project. Ambler 
wouldn't confirm or deny those reports, but pointed to previous comments from 
Enron's chief executive that any asset is for sale if the price is right. 
Enron had sought to reduce its shareholding to the 50% originally envisioned 
before the electricity board proved unable to cover its entire share of the 
project's second phase, but Sturmer said Dabhol's current difficulties would 
have to be resolved before any stakes could be sold. 
"I do not think any of the owners is actively pursuing a buyer," he said. 
Dabhol has come under fire because of the relatively high cost of its power. 
Critics object to the company's charging 7.1 rupees ($1=INR46.84) a 
kilowatt-hour for its power, compared with around INR1.5/kWh charged by other 
suppliers. 
Sturmer said the high cost is the result of the electricity board's failure 
to buy enough electricity to spread out fixed capacity charges. The rates 
presume the board would dispatch 90% of the unit's capacity. Instead the 
board, facing financial difficulty, sharply reduced its calls on the plant in 
early 2000, sometimes idling it entirely, Sturmer said. 
As reported by the Press Trust of India Monday, the Maharashtra state 
government will form a high-level committee to renegotiate the power purchase 
agreement with Dabhol Power. 
"We have decided that the government of Maharashtra will constitute a 
negotiating committee to negotiate issues like the cost of power and use of 
power with DPC," the Press Trust quoted Indian Finance Minister Yashwant 
Sinha as saying. 
-By Andrew Dowell, Dow Jones Newswires; 646-456-3542; 
andrew.dowell@dowjones.com

Copyright , 2000 Dow Jones & Company, Inc. All Rights Reserved. 


IT'S TV CO PICKS NCUBE CORP TO BE VIDEO-ON-DEMAND SERVER PROVIDER

04/24/2001
Asia Pulse
(c) Copyright 2001 Asia Pulse PTE Ltd.

LAS VEGAS, April 24 Asia Pulse - It's TV Co., Ltd, a Korea-based interactive 
TV service provider, today announced that it has chosen nCUBE Corporation to 
be its Video-On-Demand (VOD) server provider. 
Formerly known as Genesis Multimedia Corporation, It's TV plans to offer DVD 
quality VOD movies and television over its IP network to more than 500,000 
consumers by 2003, making it the largest scheduled VOD deployment in the 
world to date.
Shipment of the first 96 servers to Korea will begin later this year, the 
company said in a statement. 
It's TV, having recently completed the trial stage of the deployment in 
December 2000, expects to use the 96 servers to reach 88,000 homes by 
year-end 2001. 
The company is scheduled to scale-up to a half million subscribers by 2003. 
It's TV will broadcast TV channels over their IP network as well as provide 
full video-on-demand and interactive services in DVD-quality picture (4Mbps 
MPEG-2). 
When coupled with nCUBE's n4 streaming media server, It's TV would provide TV 
viewers in Korea with the ability to view a wide range of television and 
movie options with full VCR functionality, including pause, rewind and 
fast-forward, capability. 
nCUBE (www.nCUBE.com) provides scalable streaming media solutions to all 
broadband networks. Broadband operators worldwide count on nCUBE to provide 
solutions for broadband video-on-demand, IP streaming media, and advertising 
insertion. 
The company's core product line, the n4 streaming media appliance, can scale 
from 100 megabits per second to 128 gigabits per second of streaming media 
from a single system. 
nCUBE systems are used by Alcatel, AT&T, Bertelsmann, Enron Broadband 
Services, Cisco Systems, Charter Communications, Gemstar-TV Guide, Liberate, 
Motorola, Scientific-Atlanta, RealNetworks, Telewest Communications and Time 
Warner. 
ASIA PULSE A 24-04 1831

Copyright , 2000 Dow Jones & Company, Inc. All Rights Reserved. 


INDIA'S MAHARASHTRA STATE NEEDS ONLY 300 MW OF ENRON POWER

04/24/2001
Asia Pulse
(c) Copyright 2001 Asia Pulse PTE Ltd.

NEW DELHI, April 24 Asia Pulse - The western state Maharashtra has said it 
needed only 300 MW of the 740 MW power produced by US energy giant Enron
-promoted Dabhol Power Company (DPC). 
"The state cannot consume all the power produced by DPC. Our requirement of 
power is only about 300 MW," Maharashtra Chief Minister Vilasrao Deshmukh 
said.
While 740 MW Phase-I of DPC is presently operational, 1444 MW Phase-II is due 
for commissioning this year. 
Deshmukh, who met the federal finance minister Yashwant Sinha here on the 
issue of payment default and high cost of power from DPC, said "a way has to 
be found to wheel out the excessive power produced by DPC." 
A committee, Sinha said, would be constituted for negotiating the cost of 
power with DPC, adding "we have to also look for wheeling out excessive power 
generated as the state cannot consume all the power generated after 
commissioning of phase-II." (PTI) 24-04 1733

Copyright , 2000 Dow Jones & Company, Inc. All Rights Reserved. 


India: Centre proposes panel to defuse Dabhol crisis

04/24/2001
Business Line (The Hindu)
Copyright (C) 2001 Kasturi & Sons Ltd (KSL); Source: World Reporter (TM) - 
Asia Intelligence Wire

NEW DELHI, April 23. THE Centre has proposed to set up a committee to suggest 
measures to defuse the crisis of a potential termination of the Dabhol power 
project. 
This proposal came up at a meeting today between the Union Finance Minister, 
Mr Yashwant Sinha, the Power Minister, Mr Suresh Prabhu, and the Maharashtra 
Chief Minister, Mr Vilasrao Deshmukh.
The Centre has mooted a committee consisting of itself, the State Government 
and Enron to defuse the crisis. 
The move comes two days ahead of the DPC board meeting in London besides a 
meeting with the project lenders. 
Given the company's recent move to change gear and adopt legal recourse by 
way of seeking arbitration to resolve its issues, it is not clear whether DPC 
will become party to this committee. 
The committee, if formed with the three constituents, will look into issues 
such as DPC's offer of 15 per cent stake to National Thermal Power 
Corporation. 
Our Bureau

Copyright , 2000 Dow Jones & Company, Inc. All Rights Reserved. 


Enron PPA to be renegotiated
Our Bureau

04/24/2001
The Economic Times
Copyright (C) 2001 The Economic Times; Source: World Reporter (TM)

NEW DELHI 
THE MAHARASHTRA government has decided to form a high-level committee with 
central representation to renegotiate the power purchase agreement of Dabhol 
Power Company.
This decision was taken after discussions were held between finance minister 
Yashwant Sinha and Maharashtra chief minister Vilasrao Deshmukh. 
The committee, which is to be formed within a week, will deliberate on the 
cost aspect of the 2,184 -MW Dabhol power project. The Centre will nominate 
one member to this committee who will represent the joint views of all 
related ministries. 
Sources said since the Maharashtra government has already indicated that it 
will not be in a position to buy the entire power generated by the Enron 
plant, the committee will also look into matters like exports of surplus 
power to other states. 
The committee will have representatives from the state government and MSEB. 
Speaking to reporters, Sinha said: "We hope DPC will respond positively to 
this and not take steps that will precipitate a crisis." 
Although this appears like the beginning of a breakthrough as far as the 
government of Maharashtras stand on the Enron controversy is concerned, it is 
left to see as to how it is accepted or reciprocated by Enron. 
Sources said since Enron had already slapped two arbitration notices on the 
state government and a arbitration/conciliatory notice on the Centre, the 
legal aspects of the issue will also have to be resolved. 
"This will, however, be seen by the legal experts and a view would have to be 
taken as to how this could be dealt with if negotiations on the PPA were to 
begin all over again." 
The lenders to the project are meeting in London to evaluate the developments 
in the project and are expected to take a view on the non-payments of energy 
bills. 
Industry sources claim that the developers who have been slowing down their 
investments in all other sectors are looking for buyers to sell a sizeable 
portion of the stake. 
The Godbole committee, which was instituted by the Maharashtra government to 
look into the Dabhol power project, its costing, tariffs and other aspects of 
the PPA, have submitted its findings to the state government. 
This committees views and inputs will be drawn largely by the negotiating 
committee during deliberations with Enron.

Copyright , 2000 Dow Jones & Company, Inc. All Rights Reserved. 


InPlay
Enron directors mulling India deal Wednesday

04/24/2001
The Daily Deal
Copyright (c) 2001 The Deal LLC

Bechtel Group Inc. - General Electric Co. - Enron Corp. 
Houston energy giant Enron Corp. confirmed Monday that the directors of its 
Indian subsidiary are scheduled to meet Wednesday in London to discuss the $3 
billion, 2,184 megawatt Dhabol power project in the western state of 
Maharashtra. An Enron spokesman wouldn't say whether the company will 
consider selling its 65% interest. The Maharashtra State Electricity Board, 
which owns 15%, is expected to send representatives, as are Fairfield, Conn. 
based General Electric Co. and San Francisco based Bechtel Group Inc., which 
each own 10%. Enron reportedly wants to sell its stake because financially 
strapped MSEB failed to invest in the project's second phase, has not 
purchased 15% of Enron's stake and defaulted on $48.2 million in electricity 
payments. -Claire Poole http://www.thedeal.com

Copyright , 2000 Dow Jones & Company, Inc. All Rights Reserved. 


National News
No date set for electricity D-Day Government hopes deregulation will be ready 
by May, 2002, but deadline uncertain
RICHARD MACKIE AND MARTIN MITTELSTAEDT
With a report from John Ibbitson

04/24/2001
The Globe and Mail
Metro
A4
"All material Copyright (c) Bell Globemedia Publishing Inc. and its 
licensors. All rights reserved."

The Ontario government is hoping that a competitive electricity market will 
be ready by May, 2002, but has stopped short of fixing a day for deregulation 
to begin. 
The declaration, made separately by Premier Mike Harris and Energy Minister 
Jim Wilson yesterday, shows that there is still uncertainty in the government 
over timing the beginning of competition in the province's $10-billion 
electricity market.
That indecision angered some industry officials, who had wanted the province 
to set a date. Deregulation has been under discussion for more than three 
years but is highly controversial because of problems that energy 
deregulation has caused in Alberta and California. 
Mr. Harris, speaking in Hamilton, said the timing depends, in part, on when 
the province's shuttered Pickering A nuclear station returns to service, 
adding much-needed juice to the province's supplies. 
"You don't have to be a rocket scientist to understand that we are looking at 
some time -- January, February -- for the return of Pickering onto the grid. 
We believe that's an important supply factor that needs to be there," he 
said. 
He also warned that ratepayers should brace for an increase in the price of 
electricity because of the growing tightness in the North American power 
market. 
Despite the possibility of higher rates, Mr. Harris argued that competition 
is the proper course because price increases would be steeper if Ontario 
retained a monopoly over the generation and the sale of electricity. 
"Clearly the track we are on is higher energy prices," Mr. Harris told 
reporters. "That's global. That's certainly North-America-wide. And that is 
the case here in the Province of Ontario in electricity and in other energy 
sources." 
In a related legislative statement yesterday, Mr. Wilson referred to the May, 
2002, date as the time when the government "is confident that conditions 
necessary to open the electricity market to competition will exist." 
When asked later whether May, 2002, was an "absolutely fixed date" for 
deregulation, Mr. Wilson replied, "Yes." 
The Association of Major Power Consumers in Ontario, a lobby group for big 
electricity users, had a hostile response to Mr. Wilson's formal statement. 
Its president, Arthur Dickinson, said he was appalled by the weak language. 
The association wants a large number of electricity producers to open up shop 
in Ontario to increase the chances that competition will lead to lower prices 
for big power users, but is worried that companies won't build generating 
stations until they are sure the government has a firm opening date. 
"He's left uncertainty in the air, and that's not helpful. We have potential 
investors who want to get into this market who I don't think are going to 
invest if the minister uses words like he's 'confident the market will open 
by [May 2002].' They need a definitive date," Mr. Dickinson said. 
Companies have announced plans to spend about $3-billion on 27 new or 
expanded generation stations in Ontario, the Ministry of Energy says. 
But very few of those projects are actually under construction. Recently, the 
head of Enron Corp., a major U.S. power producer, said it would re-evaluate 
plans for a $200-million power plant in Ontario if the government didn't fix 
a date for the market to open. 
Adding to the upward pressure on electricity prices in Ontario is the 
government's decision to pay off the almost $20-billion in debt incurred to 
build the existing generating and distribution system. 
The government wants to pay off this $20-billion, known as the so-called 
stranded debt, by 2017 with charges on purchases of electricity. 
Mr. Harris said delaying repayment is not being considered. 
"Certainly the debt has to be repaid. It is being repaid now, starting June 
1. The current increase in prices of 8 per cent, a significant portion of 
that, is to make sure Hydro Ontario Power Generation is generating the kind 
of revenue it needs to pay down that debt," he said. 
Ontario Power is the provincially owned electricity utility, one of the 
successor companies to Ontario Hydro.

Illustration 

Copyright , 2000 Dow Jones & Company, Inc. All Rights Reserved. 


Milwaukee Journal Sentinel Street Smart Stock Analysis Column
Kathleen Gallagher

04/24/2001
KRTBN Knight-Ridder Tribune Business News: The Milwaukee Journal Sentinel - 
Wisconsin
Copyright (C) 2001 KRTBN Knight Ridder Tribune Business News; Source: World 
Reporter (TM)

FUEL CELLS SPARK ANALYST'S INTEREST: 
INVESTMENT: FuelCell Energy Inc., Danbury, Conn., develops and commercializes 
fuel cell power plants for electric power generation.
ANALYST: KENT A. MORTENSEN, vice president and senior research analyst at 
Robert W. Baird & Co. 
MORTENSEN THINKS FUELCELL'S strong partnership with Enron Corp. and good 
management team will help it take advantage of the pressing need for reliable 
power, the fallout from utility deregulation and the pressure on power 
generators to protect the environment. 
"Enron thinks there's about a $1 billion market for alternative energy 
products and the economies of FuelCell's product appear to make more sense 
than other technologies like solar and wind power," he said. 
Most people confuse fuel cells, which have been around since the 1800s and 
were used in the Apollo space missions, with batteries. But while batteries 
store energy for later use, fuel cells use natural gas to start a chemical 
reaction between hydrogen and oxygen that makes electricity. 
"Nickel is the catalyst -- it's a chemical reaction, not combustion," 
Mortensen said. 
FuelCell's products look like big round cans and can get as hot as 1,200 
degrees. Their biggest downside is cost: Their generating capacity costs 
about $5,000 a kilowatt -- a number Mortensen thinks needs to shrink to about 
$1,200. 
But he's betting that FuelCell, which is hoping to have commercial units of 
the product it's testing available by the end of this year, will be able to 
lower its prices if it can sign on enough customers. 
"They believe they have a road map to bring costs down to a reasonable 
basis," Mortensen said. 
That effort would be helped greatly if FuelCell wins the contract it's trying 
to get with Enron to build a 26-megawatt fuel cell farm in Connecticut. 
Mortensen sees several trends working in FuelCell's favor: New technologies 
have created a huge need for reliable power. 
"Yet just when we need power quality to improve to support the Internet, 
telecommunications and e-commerce, it's actually degrading," Mortensen said. 
He believes California's problems with power generation and transmission are 
just the beginning. Seventy percent of our nation's power grid is more than 
25 years old, and 30 percent of it is more than 50 years old, Mortensen said. 
"We're moving to a 21st-century digital economy with a 20th-century grid that 
was built to support the air conditioner and TV," he said. Utility 
deregulation has encouraged power suppliers to underinvest, resulting in a 
shortage of power plants and transmission lines. It is difficult to build new 
power plants, because of environmental regulations and people's aversion to 
living or working near them. 
These factors "will drive demand for new power technologies," Mortensen 
predicted. 
FuelCell's products have minimal emissions and are perfect for generating 
power on-site for, say, a small factory. 
"FuelCell's product, a molten carbonate fuel cell, can take up the size of 
roughly a tennis court and provide power that has, for all practical 
purposes, no emissions," Mortensen said. 
He believes those attributes can help FuelCell take market share away from 
centralized power plants, much as the personal computer has taken share away 
from mainframes. 
The company doesn't make money now, but Mortensen expects FuelCell to turn 
profitable in 2004. Its partner, Enron, has incentive to make that happen 
because if it sells 55 megawatts of FuelCell's product by September 2002, it 
gets warrants for about 8 percent of the company. 
Mortensen thinks the biggest risk associated with this stock is the 
possibility that FuelCell, which has never made its products in scale, won't 
be able to bring down its costs. 
"If they don't get the right level of orders, they won't be able to drive the 
cost down," he said. 
The other big risk is that FuelCell's patented technology could fail. 
"I'm more worried about them getting the cost down. Their technology seems 
reasonably sound, but you still have to convince people to have their power 
supplied by a new technology -- and a lot of people don't like to take 
chances with new technology," he said. 
Mortensen thinks this stock is best for investors who are willing to own it 
as part of a basket of power technology companies. "Betting on who's going to 
be the winner in this space is difficult. This is a very speculative 
investment," he said. 
Mortensen would buy FuelCell shares up to $70 in the near term and thinks 
they could go as high as $120 in the next 12 to 24 months. 
Kathleen Gallagher's Sunday Street Smart column examines one stock through 
the eyes of a professional investor. Neither Gallagher nor the Journal 
Sentinel recommends specific investments or endorses the recommendations of 
those interviewed. 
Symbol/Exchange: FCEL, Nasdaq 
April 20 price: $56.60 
52-week range: $16 to $108.75 
Dividend yield: None 
Long-term debt: None 
Shares outstanding: 15.8 million 
Avg. daily volume (3 month): 698,873 shares 
Earnings per share (2001): $1.60 
Earnings per share (2002): $1.80

Copyright , 2000 Dow Jones & Company, Inc. All Rights Reserved. 


UK: UPDATE 2-Saudi's Naimi to meet US Energy Secy on Friday.

04/23/2001
Reuters English News Service
(C) Reuters Limited 2001.

LONDON, April 23 (Reuters) - Saudi Oil Minister Ali al-Naimi will meet U.S. 
Energy Secretary Spencer Abraham in Washington later this week, the first 
meeting between the two officials, diplomats said on Monday. 
They said the meeting would allow Naimi to meet face-to-face with his U.S. 
counterpart, who assumed office as part of President George W. Bush's 
administration in January.
An Energy Department spokesman said the meeting would take place on Friday 
morning at DOE headquarters. 
The two officials are likely to discuss oil prices in the wake of OPEC's 
decision to curb output twice this year by 2.5 million barrels per day (bpd), 
or about 9 percent. 
Oil prices have found support from tight U.S. gasoline supplies which 
threaten a repeat of last summer's price spike at the pumps. Saudi Arabia is 
the leading supplier to the United States, the world's biggest oil consumer. 
Abraham has taken a low-key approach towards the Organisation of the 
Petroleum Exporting Countries - a marked departure from former energy 
secretary Bill Richardson who lobbied OPEC ministers during their meetings. 
But Washington has made clear it does not want to see sky-high oil prices 
further eroding U.S. economic growth. 
OPEC members, which last year enjoyed the biggest oil boom in two decades, 
have said they would cut output again if prices fall below a $22 price floor 
for their basket of seven crudes. 
The basket is currently around OPEC's preferred level of $25 a barrel. 
OPEC power Saudi Arabia, the world's biggest oil exporter and producer, has 
said the oil cartel would move swiftly to raise output again if prices pushed 
above the $28 upper limit of the group's target range. 
SAUDI INVESTMENT 
The oil officials' meeting comes as Riyadh prepares to award multi-billion 
dollar contracts for Saudi gas developments. 
U.S. oil company Exxon Mobil Corp. is a leading contender to win an 
operatorship for at least one of the three projects on offer, industry 
sources have said. 
U.S. oil companies Conoco, Chevron, Phillips, Marathon and Enron/Oxy - along 
with several European rivals - are also expected to play a role in the 
investment. 
Naimi is scheduled to speak at an energy conference in Paris on Wednesday and 
travel from there to Washington. He is due in Houston on May 3 to attend a 
Saudi Aramco board meeting, industry sources said.

Copyright , 2000 Dow Jones & Company, Inc. All Rights Reserved.