[IMAGE]	 Derivatives For Energy Professionals  [IMAGE]  Two Full Days, April 9-10, 2002  Houston, TX  Upcoming Class Date:  Two  Full Days, August 6-7, 2002 Early Bird Special Deadline is July 3rd Houston, TX   	


Energy Consumers and Producers?   Are you a consumer that hesitated to buy forward in 2000 or bought too soon last year?  Are you a producer who hedged too early in 2000 and did not hedge enough in early 2001?  Did you take undue credit risk because you did not know how to estimate exposure?  Are you comforting yourself with the fact that you did not hedge to make money?  Let's face it - you did not hedge to lose money either.  Kase's Derivatives for Energy Professionals will provide you with the indispensable strategies and tactics you need to avoid costly errors and equip you to make the important hedging decisions necessary for survival in today's treacherous marketplace.  Content  The Derivatives Market Buying and Selling Forward Hedging Long and Short Positions Trigger Deals, EFP's, Swaps Hedging Spreads and Basis Volatility and Options Hedging with Options Hedging with "Exotics" Market Behavior in Favorable Price Environments Market Behavior in Adverse Price Environments Developing a Strategy to Match Risk Appetite Selecting Appropriate Instruments Developing Policies and Procedures    In This Class You Will Learn About  How futures and OTC derivatives work Hedging prices, basis, margins, and spreads Math for volatility, VAR, Monte Carlos  Options, including puts, calls, floors, caps, synthetics, and more  Cost-reducing hedge strategies, such as three-way collars, option spreads  How the market behaves, including how long bull and bear markets typically last, how contango or backwardation effects hedging, the impact of removing hedges  What hedge maturities should be used Considerations for custom strategies  Developing policies and procedures   Registration Fees Include a Copy of Kase's video "Effective Risk Management"  [IMAGE]  Early Bird Deadline for  August 6-7 Class is June 3rd  Early Bird Special:  $895.00 Two or More Early Bird:  $825.00  Regular:  $995.00 Two or More:  $895.00  Marriott West Loop, Houston  $135 Per Night - Kase Class Rate (713) 960-0111 Reservations Phone (713) 624-1517 Reservations Fax 1750 West Loop South Houston, TX  77027  For More Information Go To?. www.kaseco.com/classes/derivatives.htm             [IMAGE] Kase and Company also offers In House Training Classes. For more information about Kase In House Training Classes please email us at:kase@kaseco.com  (505) 237-1600.  Kase and Company also has an upcoming  Learn Technical Analysis Class on June 11-12, 2002 in Houston, TX. For more information about Learn Technical Analysis and what will be covered go to...   www.kaseco.com/classes/tech_analysis.htm