---------------------- Forwarded by John Arnold/HOU/ECT on 03/06/2001 04:40 
PM ---------------------------


"Piasio, Stephen [FI]" <stephen.piasio@ssmb.com> on 02/23/2001 08:09:13 AM
To: 
cc:  
Subject: FW: 2001 Natural Gas Production and Price Outlook Conference Call




>  <<...OLE_Obj...>>
>
> 2001 Natural Gas Production and Price Outlook Conference Call
>
>
>  <<...OLE_Obj...>> Salomon Smith Barney <<2001 Natural Gas Conference
> Call.doc>>
> Energy Research Group
> Analyst Access Conference Call
>
> 2001 Natural Gas  Production and Price Outlook
> Hosted by:
> Bob Morris and Michael Schmitz
>  Oil and Gas Exploration & Production Analysts
>
>  Date & Time:
> FRIDAY (February 23rd)
> 11:00 a.m. EST
>
> Dial-in #:
>  US:   800-229-0281 International:  706-645-9237
>
> Replay #: (Reservation: x 819361)
>  US:   800-642-1687 International: 706-645-9291
>
> Accessing Presentation:
> * Go to https://intercallssl.contigo.com
> * Click on Conference Participant
> * Enter Event Number:  x716835
> * Enter the participant's Name, Company Name & E-mail address
> * Click Continue to view the first slide of the presentation
>
> Key Points:
> 1. Natural gas storage levels appear to be on track to exit March at
> roughly 700-800 Bcf, compared with just over 1,000 Bcf last year at the
> end of the traditional withdrawal season.
> 2. Meanwhile, domestic natural gas production should rise 3.0-5.0% this
> year, largely dependent upon the extent of the drop in rig efficiency, or
> production added per rig.
> 3. Nonetheless, under most scenarios, incorporating numerous other
> variables such as the pace of economic expansion, fuel switching and
> industrial plant closures, it appears that storage levels at the beginning
> of winter will be near or below last year's 2,800 Bcf level.
> 4. Thus, it appears likely that the "heat" will remain on natural gas
> prices throughout 2001.
> 5. Consequently, we believe that many E&P shares will post solid gains
> again this year, spurred largely by mounting confidence in the
> sustainability of strong natural gas prices.
>
>

 - 2001 Natural Gas Conference Call.doc